New Delhi, Feb 9 Travel tech unicorn OYO on Sunday reported a strong financial performance in the third quarter (Q3) of FY25, posting a profit after tax (PAT) of Rs 166 crore.
This is a significant rise compared to Rs 25 crore in the same period last year (Q3 FY24).
The company's revenue also saw growth of 31 per cent at Rs 1,695 crore in the October-December quarter (Q3), compared to Rs 1,296 crore a year ago period.
According to reports, OYO's adjusted EBITDA for the quarter stood at Rs 249 crore, a 22 per cent increase from Rs 205 crore recorded in the same period last fiscal.
The company’s gross booking value (GBV) surged to Rs 3,341 crore with a 33 per cent growth from Rs 2,510 crore in Q3 FY24.
However, these financial figures do not include the performance of G6 Hospitality, as its acquisition became effective only in the third week of December.
For the first nine months of FY25, OYO reported a cumulative profit after tax of Rs 457 crore, a sharp improvement from a loss of Rs 111 crore in the corresponding period last year.
The company's growth was primarily fueled by strong performance in its key markets of India and the US.
Additionally, emerging markets in Southeast Asia and the Middle East played a crucial role in driving the company’s expansion.
OYO has been actively pursuing strategic initiatives to strengthen its position in the market.
The company has focused on the premiumisation of its hotel portfolio in India and has also expanded globally through acquisitions.
It recently acquired US-based G6 Hospitality and Paris-based rental home platform Checkmyguest.
Global rating agency Moody’s upgraded its credit rating from B3 to B2 with a stable outlook.
Moody’s estimates that the company’s EBITDA will reach $200 million in FY25-26, which will be its first full year of financial consolidation following its recent acquisitions.
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