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  3. OYO's Milestone: First Profitable Year with Rs 100 Crore Net Income

OYO's Milestone: First Profitable Year with Rs 100 Crore Net Income

30 May 2024

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Key Takeaways

  • Profitable Year:

    • OYO achieved its maiden profitable fiscal year with net earnings of nearly Rs 100 crore and an EBITDA of Rs 888 crore, indicating strong financial recovery.

  • Credit Rating Upgrade:

    • Fitch Ratings upgraded OYO's credit rating, highlighting robust cash flows and an improved financial profile.

  • Global Expansion:

    • OYO added 5,000 hotels and 6,000 homes globally, also potential strategic growth in key markets like India, the Nordics, South East Asia, the US, and UK.

  • Promising Future:

    • Driven by emerging travel trends and international expansion, OYO's future prospects appear promising.

  • Profitable Year:

    • OYO achieved its maiden profitable fiscal year with net earnings of nearly Rs 100 crore and an EBITDA of Rs 888 crore, indicating strong financial recovery.

  • Credit Rating Upgrade:

    • Fitch Ratings upgraded OYO's credit rating, highlighting robust cash flows and an improved financial profile.

  • Global Expansion:

    • OYO added 5,000 hotels and 6,000 homes globally, also potential strategic growth in key markets like India, the Nordics, South East Asia, the US, and UK.

  • Promising Future:

    • Driven by emerging travel trends and international expansion, OYO's future prospects appear promising.

oyo unlisted shares

Oravel Stays (OYO Rooms)

DRHP filed4.44%

Expert Analysis

OYO Reports First Profitable Year with Nearly Rs 100 Crore Earnings, Fitch Upgrades Credit Rating.

Expert Analysis:

  • Profitability: OYO reported its maiden profitable fiscal year (2023-24) with net earnings of nearly Rs 100 crore.

  • Growth Prospects: Founder Ritesh Agarwal emphasized growth in India and key international markets, including the Nordics, South East Asia, the US, and UK.

  • Credit Rating Upgrade:

    • Fitch Ratings upgraded OYO's credit rating due to improved financial performance and strong cash flows.

    • Fitch upgraded the rating of OYO's USD 660-million senior secured term loan facility due 2026 to 'B' from 'B-'.Fitch upgraded Oravel Stay's long-term foreign and local currency issuer default ratings to 'B' from 'B-' with a 'Stable' outlook, according to a statement.

  • Global Expansion: OYO added about 5,000 hotels and 6,000 homes globally in FY24.

  • Financial Performance: The company reported a PAT of Rs 99.6 crore (USD 12 million) and an adjusted EBITDA of Rs 888 crore (USD 107 million), up from Rs 274 crore (USD 33 million) in FY23.

Publisher:devdiscourse