Ritesh Agarwal

OYO turns profitable in FY24 with INR 229 Cr PAT, cutting employee costs by half

HospitalitySeptember 11, 2024

IPO-bound OYO turned profitable in the financial year 2023-24 (FY24) as it streamlined expenses and reduced employee costs. The unicorn reported a net profit of INR 229.5 crore, reversing the net loss of INR 1,286.5 crore...

OYO eyes 3x increase in net profit to INR 700 Cr for FY25

NewsAugust 29, 2024

OYO, the hospitality and travel tech platform, is targeting a threefold increase in its profit after tax (PAT) to INR 700 crore for the financial year 2024-25 (FY25), according to founder and CEO Ritesh Agarwal. In a...

OYO reports profitable FY24 with INR 229 Cr PAT, revenue slightly down

HospitalityAugust 14, 2024

OYO, the hospitality and travel tech platform, ͏has a͏n͏nounced it͏s first p͏rofita͏ble͏ fiscal year in FY24, at͏tributing th͏e͏ mil͏esto͏ne ͏to increased demand and a...

OYO receives shareholder approval to raise INR 416.85 Cr through preference shares

Hotels & RestaurantsJune 21, 2024

OYO, th͏e hospitality and travel tech platform, has ͏reportedly͏ receive͏d sh͏areholder approval͏ t͏o raise I͏NR 416͏.85 crore throu͏gh the issuance of͏ preferen͏ce shares. Ac͏cording to...

OYO in advanced talks with family offices for INR 1,000 Cr funding round

Hotels & RestaurantsJune 18, 2024

OYO, ͏a prom͏ine͏nt playe͏r͏ ͏in͏ the ͏hospi͏tality͏ ͏se͏cto͏r,͏ ͏is ͏sa͏id to ͏͏be͏ in the final ͏͏s͏tag͏es͏ o͏f negotia͏tio͏ns to secure a new round of...

OYO reports first profitable fiscal year with INR 100 Cr net earnings; founder Ritesh Agarwal eyes global growth

Hotels & RestaurantsMay 30, 2024

OYO, the hospitality and travel tech platform, reported its first profitable fiscal year in 2023-24 with a net earning of nearly INR 100 crore,...

SoftBank-backed hospitality giant OYO withdraws IPO documents, shifts focus to $450M bond sale

Hotels & RestaurantsMay 22, 2024

OYO, a Delhi NCR-based hospitality unicorn, has officially withdrawn its IPO (initial public offering) documents from the market regulator SEBI. According to the SEBI...

OYO in talks with family offices to raise $90 Million in down round

Hotels & RestaurantsMay 22, 2024

OYO, a major player in the hospitality industry, is reportedly in talks to raise a down round at a valuation of $2.3 billion, down...

Oyo to resubmit IPO papers following $450 Million refinancing for Term Loan B

Hotels & RestaurantsMay 18, 2024

Oyo, a SoftBank-backed hospitality and travel-tech firm, is reportedly preparing to refile the draft papers for its much-anticipated initial public offering (IPO) as the...

JP Morgan extends INR 200 Crore credit facility to fuel Oyo’s expansion

NewsMarch 12, 2024

According to a report by ET, JP Morgan has extended a credit facility of INR 200 crore to Oyo. Sources familiar with the matter...

OYO’s parent company Oravel Stays to unveil 13 self-operated upscale hotels under ‘Palette’ brand by year-end

NewsMarch 8, 2024

Oravel Stays, the parent company of hospitality giant OYO, aims to unveil 13 self-operated hotels under its upscale brand 'Palette' by year-end. Following a model...

Oyo launches Wizard Shark loyalty program following Ritesh Agarwal’s Shark Tank appearance

Hotels & RestaurantsFebruary 21, 2024

On Wednesday, Oyo announced the introduction of Wizard Shark, a novel 'limited-edition' loyalty program. This initiative comes on the heels of its founder and...

IPO-bound OYO’s Q3 FY24 profit doubles QoQ to INR 30 Cr

NewsFebruary 9, 2024

OYO, the IPO-bound hospitality unicorn, achieved its second consecutive profitable quarter in Q3 of the financial year 2023-24 (FY24), doubling its profit after tax...

Oyo Hotels in advanced talks with Khazanah Nasional Berhad for $400 Million funding boost

NewsJanuary 25, 2024

As per a report in Bloomberg, Khazanah Nasional Berhad, Malaysia's sovereign wealth fund, is currently in talks with Oyo Hotels & Homes Pvt. to...

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Ritesh Agarwal

OYO turns profitable in FY24 with INR 229 Cr PAT, cutting employee costs by half

OYO eyes 3x increase in net profit to INR 700 Cr for FY25

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