HBI Staff | Hyderabad 
OYO Hotels and Homes Pvt Ltd, a major player in the hospitality sector, reported a net profit of INR 114.64 crore for FY24, marking a significant turnaround from the net loss recorded in FY23. This positive result underscores the company’s first profitable year since its inception.
However, OYO’s operational revenue dropped by 15% to INR 1,112.83 crore as of March 2024, compared to INR 1,312.61 crore in the previous year. Similarly, the company’s total revenue fell to INR 1,179 crore in March 2024, down from INR 1,400 crore in the same period last year.
The company recorded an EBITDA of INR 153 crore for March 2024, a stark improvement from a loss of INR 204 crore in the prior year. This achievement marks OYO’s first positive EBITDA since 2020.
For FY24, OYO reported INR 5,388 crore in total revenue, reflecting a marginal decline of 1.37% from INR 5,463 crore in FY23. Despite the dip, adjusted EBITDA for FY24 soared by 215% to INR 877 crore, compared to INR 277 crore in FY23.
The company’s per-share earnings (EPS) also turned positive, with a gain of INR 0.36 per share in FY24, as opposed to a loss of INR 1.93 per share in FY23. Meanwhile, total expenses were reduced by 13% to INR 4,500 crore in FY24, down from INR5,207 crore in FY23.
OYO significantly expanded its hotel portfolio in FY24, increasing its inventory to 18,103 properties, up from 12,938 in FY23. This growth was attributed to strong business performance, rising demand, and an improved market outlook.
This turnaround in profitability follows eight consecutive quarters of positive adjusted EBITDA, underscoring the company’s strategic focus on cost optimization and market expansion.
