Travel tech and budget hotel aggregator OYO posted a third-quarter revenue of Rs 1,695 crore for the third quarter ending December 2024. This was a 31 per cent jump from the year-ago topline of Rs 1,296 crore, a significant improvement from the flat revenue trends from the last fiscal year.
Agencies that accessed the documents stated that OYO saw a 22 per cent jump year-on-year in the quarterly adjusted EBITDA (earnings before interest, taxes, depreciation and amortisation) of Rs 249 crore. However, the true highlight was the profit after tax (PAT) for the three-month period, growing around six times to an impressive Rs 166 crore, from last year's Q3 PAT of Rs 25 crore.
Gross booking value (GBV) improved 33 per cent to Rs 3,341 crore, stated the Agencies with access to the documents.
The reported financial figures excluded the ones from the recently acquired G6 Hospitality, it noted.
"OYO was able to demonstrate its ability to run profitable operations, but the topline growth trajectory was a question mark. The renewed focus on revenue growth has borne results with the company showing a 31 per cent increase in topline," a source close to the company told Agencies.
READ: OYO says no to unmarried couples with new check-in rules
Robust performance across core markets of India and the US, with significant contributions from Southeast Asia and the Middle East, aided the company's growth in the quarter.
OYO's latest bid to premiumise its overall portfolio saw it absorb G6 Hospitality in the US, but also add French rental home firm Checkmyguest to its kitty.
Rating agency Moody's recently upgraded OYO's rating to B2 from B3, while maintaining a stable outlook. Moody's also sees OYO's EBITDA for the fiscal 2025-2026 to hit USD 200 million, factoring in earnings consolidation from its latest acquisitions.
The Agencies also posted that OYO was yet to officially respond to the reported financial figures.
