oyo: Oyo expects consistent PAT rise in upcoming quarters, CEO Ritesh Agarwal tells employees
Hospitality and travel-tech firm Oyo expects a consistent rise in its Profit After Tax (PAT) after doubling it sequentially in Q3 FY24 to Rs 30 crore, according to company Founder & CEO Ritesh Agarwal. Agarwal shared the update about the two-fold increase in the company’s profit during an employee town hall on Friday.
![]()
Oravel Stays Ltd, which operates travel tech brand Oyo, had its maiden profitable quarter in Q2 FY24 with a PAT of Rs 16 crore.
Elevate Your Tech Prowess with High-Value Skill Courses
| Offering College | Course | Website |
|---|---|---|
| Indian School of Business | ISB Professional Certificate in Product Management | Visit |
| MIT | MIT Technology Leadership and Innovation | Visit |
| IIM Lucknow | IIML Executive Programme in FinTech, Banking & Applied Risk Management | Visit |
“In the upcoming quarters, we anticipate a consistent rise in PAT, driven by enhanced patron confidence, improved customer experience , and favourable market conditions conducive to sustained growth,” Agarwal told the employees.
He also informed the staff that the company clocked adjusted EBITDA of Rs 750 crore in FY23 and expects to clock adjusted EBITDA of Rs 1,000 crore in FY24, surpassing its earlier projection of Rs 800 crore for FY24.
When contacted, Oyo spokesperson declined to comment.
Last year Oyo had prepaid Rs 1,620 crore debt through a buyback process that involved the repurchase of 30 per cent of the company’s outstanding Term Loan B (TLB).
Discover the stories of your interest
The IPO-bound firm, in its last public filing, had disclosed that it achieved operational profitability in FY23, clocking an adjusted EBITDA of Rs 277 crore.
Earlier, Agarwal had shared with employees that the company had turned cash flow positive in the fourth quarter of FY23.
Hospitality and travel-tech firm Oyo expects a consistent rise in its Profit After Tax (PAT) after doubling it sequentially in Q3 FY24 to Rs 30 crore, according to company Founder & CEO Ritesh Agarwal. Agarwal shared the update about the two-fold increase in the company’s profit during an employee town hall on Friday.
![]()
Oravel Stays Ltd, which operates travel tech brand Oyo, had its maiden profitable quarter in Q2 FY24 with a PAT of Rs 16 crore.
Elevate Your Tech Prowess with High-Value Skill Courses
| Offering College | Course | Website |
|---|---|---|
| Indian School of Business | ISB Professional Certificate in Product Management | Visit |
| MIT | MIT Technology Leadership and Innovation | Visit |
| IIM Lucknow | IIML Executive Programme in FinTech, Banking & Applied Risk Management | Visit |
“In the upcoming quarters, we anticipate a consistent rise in PAT, driven by enhanced patron confidence, improved customer experience , and favourable market conditions conducive to sustained growth,” Agarwal told the employees.
He also informed the staff that the company clocked adjusted EBITDA of Rs 750 crore in FY23 and expects to clock adjusted EBITDA of Rs 1,000 crore in FY24, surpassing its earlier projection of Rs 800 crore for FY24.
When contacted, Oyo spokesperson declined to comment.
Last year Oyo had prepaid Rs 1,620 crore debt through a buyback process that involved the repurchase of 30 per cent of the company’s outstanding Term Loan B (TLB).
Discover the stories of your interest
The IPO-bound firm, in its last public filing, had disclosed that it achieved operational profitability in FY23, clocking an adjusted EBITDA of Rs 277 crore.
Earlier, Agarwal had shared with employees that the company had turned cash flow positive in the fourth quarter of FY23.
Denial of responsibility! Techno Blender is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – [email protected]. The content will be deleted within 24 hours.