* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Monday, August 25, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    ‘When Calls the Heart’ Fans All Want the Same Thing After Seeing the Show’s Latest Update – yahoo.com

    When Calls the Heart’ Fans Rally Together in Excitement Over Exciting New Update!

    Quotes of the Week: Peacemaker, Project Runway, Countdown and More – yahoo.com

    This Week’s Most Memorable Quotes from Peacemaker, Project Runway, Countdown, and More!

    Drake Appears in Teaser for Bobbi Althoff’s New Podcast ‘Not This Again’ – yahoo.com

    Drake Drops a Surprise Cameo in Bobbi Althoff’s Thrilling New Podcast Teaser ‘Not This Again

    From polka to Poison, Corn Palace adjusts entertainment offerings with the times – Mitchell Republic

    From polka to Poison, Corn Palace adjusts entertainment offerings with the times – Mitchell Republic

    How to watch ‘F1: The Movie’ on Prime Video – About Amazon

    Experience the Thrill: How to Stream ‘F1: The Movie’ on Prime Video

    FOX One is now available on Prime Video: Here’s everything to know – About Amazon

    FOX One is now available on Prime Video: Here’s everything to know – About Amazon

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Figure Technology Solutions, Inc. Files Registration Statement for Proposed Initial Public Offering – Business Wire

    Figure Technology Solutions, Inc. Unveils Exciting Plans for Its Upcoming Initial Public Offering

    UNLV Responds to Workforce Need with Microcredential in Nuclear Technology – University of Nevada, Las Vegas | UNLV

    UNLV Unveils Cutting-Edge Microcredential Program to Fuel Growth in Nuclear Technology

    Why Technology Will Never Take Over Completely – Patheos

    Why Technology Will Never Completely Control Our Lives

    Alcorn State awarded grant to boost STEM with VR technology – WJTV

    Alcorn State Secures Grant to Transform STEM Education Through Cutting-Edge VR Technology

    Hyundai: The Only Way To Beat China Is To Embrace Technology – InsideEVs

    Hyundai’s Bold Strategy to Outpace China with Cutting-Edge Technology

    Teaching older adults how to use technology – WWNY

    Empowering Older Adults to Master Technology with Confidence

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    ‘When Calls the Heart’ Fans All Want the Same Thing After Seeing the Show’s Latest Update – yahoo.com

    When Calls the Heart’ Fans Rally Together in Excitement Over Exciting New Update!

    Quotes of the Week: Peacemaker, Project Runway, Countdown and More – yahoo.com

    This Week’s Most Memorable Quotes from Peacemaker, Project Runway, Countdown, and More!

    Drake Appears in Teaser for Bobbi Althoff’s New Podcast ‘Not This Again’ – yahoo.com

    Drake Drops a Surprise Cameo in Bobbi Althoff’s Thrilling New Podcast Teaser ‘Not This Again

    From polka to Poison, Corn Palace adjusts entertainment offerings with the times – Mitchell Republic

    From polka to Poison, Corn Palace adjusts entertainment offerings with the times – Mitchell Republic

    How to watch ‘F1: The Movie’ on Prime Video – About Amazon

    Experience the Thrill: How to Stream ‘F1: The Movie’ on Prime Video

    FOX One is now available on Prime Video: Here’s everything to know – About Amazon

    FOX One is now available on Prime Video: Here’s everything to know – About Amazon

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Figure Technology Solutions, Inc. Files Registration Statement for Proposed Initial Public Offering – Business Wire

    Figure Technology Solutions, Inc. Unveils Exciting Plans for Its Upcoming Initial Public Offering

    UNLV Responds to Workforce Need with Microcredential in Nuclear Technology – University of Nevada, Las Vegas | UNLV

    UNLV Unveils Cutting-Edge Microcredential Program to Fuel Growth in Nuclear Technology

    Why Technology Will Never Take Over Completely – Patheos

    Why Technology Will Never Completely Control Our Lives

    Alcorn State awarded grant to boost STEM with VR technology – WJTV

    Alcorn State Secures Grant to Transform STEM Education Through Cutting-Edge VR Technology

    Hyundai: The Only Way To Beat China Is To Embrace Technology – InsideEVs

    Hyundai’s Bold Strategy to Outpace China with Cutting-Edge Technology

    Teaching older adults how to use technology – WWNY

    Empowering Older Adults to Master Technology with Confidence

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home News

OYO’s profit doubles to INR 30 cr

February 13, 2024
in News
OYO’s profit doubles to INR 30 cr
Share on FacebookShare on Twitter

KUALA LUMPUR, Feb 13, 2024 – (ACN/NewsVoir) – Oravel Stays Ltd which operates travel tech brand OYO reported that it has doubled its profit after tax (PAT) sequentially in Q3 FY24 to ~INR 30 crore. The company had marked its maiden profitable quarter with a PAT of over ~INR 16 crore in Q2 FY24. OYO’s Founder & CEO, Ritesh Agarwal, during an employee townhall shared the update about this two-fold surge in profit. He said, “In the upcoming quarters, we anticipate a consistent rise in PAT, driven by enhanced patron confidence, improved customer experience (Cx), and favourable market conditions conducive to sustained growth.”

He also shared that the company clocked Adjusted EBITDA of ~INR 750 cr / $90mn in 2023 and expects to clock Adj EBITDA of ~INR 1000 cr / $120 mn in FY24, surpassing its earlier projected Adj EBITDA estimate of INR 800 cr for FY2024.

OYO’s revenue also grew by ~10% Y-o-Y in Q3 FY24. Agarwal also shared that OYO saw a ~27% increase in the number of hotels on its platform to 17K, over the last year. The company optimised its operating cost by 15% in Q3 FY24 vs same period. The company last filed its Annual Accounts for FY2023 and these updates are unaudited.

OYO recently concluded a debt buyback of INR 1620 crores. The back process involved the repurchase of 30% of OYO’s outstanding TLB due June 2026. Sources close to the transaction have indicated that OYO’s decision to retire debt reflects its commitment to reducing financial leverage and underlines the company’s robust financial performance. The company achieved operational profitability in FY2023 with an Adj. EBITDA of ~INR 275 crores, plans to fund future growth and expansion through its earnings.

Global credit rating agencies Fitch & Moody’s have termed OYO’s move to repurchase its outstanding debt as positive. Fitch wrote that this action will improve OYO’s EBITDAleverage and that they may take positive rating action. Moody’s doubled its Adj EBITDA estimate for FY2024 from $50 million (projected in May 2023) to $90- $100 million.

OYO recently announced its expansion plans in major spiritual hotspots across the country, fuelled by a surge in domestic travel and rising interest in spiritual tourism. OYO is gearing up to launch 400 properties in popular destinations like Ayodhya, Puri, Shirdi, Varanasi, Amritsar, Tirupati, Haridwar, Katra-Vaishno Devi, and the Char Dham route by the end of this 2024.

Topic: Earnings


Source: OYO Hotels & Homes Pvt Ltd

Sectors: Retail & eCommerce, Travel & Tourism, Daily News, Regional, Hospitality, Local Biz

http://www.acnnewswire.com

From the Asia Corporate News Network

Copyright © 2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : ACN Newswire – https://en.acnnewswire.com/press-release/english/88953/

Tags: newsOYO'sProfit
Previous Post

Doubleview Drilling Continues to Extend the “Gold Rich Zone” Within the South Lisle Zone

Next Post

doola Launches doola Money Allowing Founders Worldwide to Start a US Business, Deposit $USD and Move Money Internationally in Minutes, All in One Go

Dengue – World Health Organization (WHO)

Dengue – World Health Organization (WHO)

August 25, 2025
5 Years On, China’s Property Crisis Has No End in Sight – The New York Times

Five Years Later, China’s Property Crisis Shows No Signs of Easing

August 25, 2025
‘When Calls the Heart’ Fans All Want the Same Thing After Seeing the Show’s Latest Update – yahoo.com

When Calls the Heart’ Fans Rally Together in Excitement Over Exciting New Update!

August 25, 2025
State regulators approve sharp health insurance rate increases – Insurance Business America

State Regulators Greenlight Steep Health Insurance Rate Hikes

August 25, 2025
Pols & Politics: Audit finds Mass. government fraudulent spending nearly doubled in Q4 – Boston Herald

Pols & Politics: Audit finds Mass. government fraudulent spending nearly doubled in Q4 – Boston Herald

August 25, 2025
Eightmile Dam rebuild & restoration – Washington State Department of Ecology (.gov)

Breathing New Life into Eightmile Dam: An Ambitious Rebuild and Restoration Effort

August 24, 2025
Scientists Sequenced the DNA of the ‘Last Neanderthal’—and It Alters Human History – yahoo.com

Scientists Unlock the DNA of the ‘Last Neanderthal,’ Revolutionizing Our View of Human History

August 24, 2025
RIKEN, Japan’s Leading Science Institute, Taps Fujitsu and NVIDIA for Next Flagship Supercomputer – NVIDIA Blog

Japan’s Leading Science Institute Teams Up with Fujitsu and NVIDIA to Create Next-Generation Supercomputer

August 24, 2025
Is a relief rally coming for Equity LifeStyle Properties Inc. holders – July 2025 Retail & Weekly High Return Opportunities – Newser

Is a relief rally coming for Equity LifeStyle Properties Inc. holders – July 2025 Retail & Weekly High Return Opportunities – Newser

August 24, 2025
Figure Technology Solutions, Inc. Files Registration Statement for Proposed Initial Public Offering – Business Wire

Figure Technology Solutions, Inc. Unveils Exciting Plans for Its Upcoming Initial Public Offering

August 24, 2025

Categories

Archives

August 2025
MTWTFSS
 123
45678910
11121314151617
18192021222324
25262728293031
« Jul    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (788)
  • Economy (809)
  • Entertainment (21,688)
  • General (16,657)
  • Health (9,849)
  • Lifestyle (821)
  • News (22,149)
  • People (810)
  • Politics (818)
  • Science (16,020)
  • Sports (21,307)
  • Technology (15,789)
  • World (790)

Recent News

Dengue – World Health Organization (WHO)

Dengue – World Health Organization (WHO)

August 25, 2025
5 Years On, China’s Property Crisis Has No End in Sight – The New York Times

Five Years Later, China’s Property Crisis Shows No Signs of Easing

August 25, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version