Hotel aggregator OYO saw a loss of Rs 414 crore during the April-June quarter of this fiscal, according to the latest addendum filed by the company with the Securities and Exchange Board of India (Sebi). During FY22, the company’s loss from operations narrowed to Rs 2,140 crore from Rs 4,103 crore in FY21.
OYO claimed its maiden adjusted Ebitda during Q1FY23 at Rs 7 crore. The company’s revenue from operations during the April-June stood at Rs 1,459.3 crore. In FY22, with the lifting of Covid-led curbs, revenue from operations rose 20.7 per cent to Rs 4,781.4 crore from Rs 3,962 in FY21. However, OYO was still far behind its pre-Covid annual revenue of Rs 13,413 crore in FY20. It had registered a net loss of Rs 10,419 crore during that year.
According to Bloomberg, the company is now targeting an initial public offer (IPO) in early 2023 if the market conditions are favourable. In FY22, OYO’s total costs went up to Rs 6,984 crore from Rs 6,937 crore in FY21. General administrative expenses at Rs 515.4 crore fell 44.4 per cent from Rs 927 crore in FY21. The employee expenses, net of ESOP-based compensation fell 26.5 per cent in FY22 to 1,117.2 crore. FE
