OYO's Q3 results: Net profit soars 6 times to ₹166cr
What's the story
OYO, one of the leading players in the travel industry, has posted a whopping jump in its profit after tax (PAT) for the third quarter ending December.
The company's PAT jumped over six times to ₹166 crore from ₹25 crore in the same period last year.
The financial performance indicates a strong growth trajectory for OYO, proving it can operate profitably.
Revenue upswing
Q3 revenue witnesses 31% growth
OYO's revenue for the third quarter also witnessed a massive jump, touching ₹1,695 crore. This is nearly 31% higher than last year's ₹1,296 crore.
The company's adjusted EBITDA for the October-December quarter in FY25 stood at ₹249 crore, up 22% from ₹205 crore a year ago.
These numbers show OYO's strong financial performance this fiscal year.
Booking boom
Gross booking value shows 33% growth
The company's gross booking value (GBV) for the third quarter stood at ₹3,341 crore, up 33% from ₹2,510 crore in Q3 FY24.
These numbers do not factor in the financials of G6 Hospitality, which OYO acquired in December.
For the first nine months of FY25, OYO posted a PAT of ₹457 crore against a loss of ₹111 crore in the same period last year.
Growth drivers
OYO's growth driven by core markets and strategic initiatives
OYO's growth was largely driven by stellar performance in its core markets of India and the US.
Emerging markets in Southeast Asia and the Middle East also played a major role in this growth.
The company's recent strategic moves include premiumisation of its Indian portfolio, acquisitions of US-based hotel major G6 Hospitality, and Paris-based rental home player Checkmyguest.