Ritesh Agarwal-led OYO's profit jumps nearly 6 times to Rs 166 crore in Q3FY25, report says

Ritesh Agarwal-led traveltech giant OYO has reportedly generated a profit after tax (PAT) of Rs 166 crore in the October-December quarter of fiscal year 2024-25 (FY25), marking a nearly sixfold increase from around Rs 25-30 crore it posted a year earlier, according to documents reviewed by the PTI.

This surge in profitability extends to the company’s nine-month performance for FY25 as well. The Gurugram-based company posted a cumulative profit of Rs 457 crore during the period, compared with a loss of Rs 111 crore over the same stretch last year.

31% rise in revenue

Revenue grew 31% year-on-year to reach Rs 1,695 crore, a notable improvement from the flat growth seen in FY24. Adjusted EBITDA stood at Rs 249 crore for the third quarter, up 22% from Rs 205 crore in the same period last year.

In October last year, PTI reported that OYO generated a net profit of Rs 158 crore for the second quarter ending September 30, 2024 (Q2FY25). The growth continued the momentum established in Q1FY25, where the the company reported a net profit of Rs 132 crore. 

Growth in gross booking value (GBV)

OYO’s gross booking value (GBV) in Q3FY25 reached Rs 3,341 crore, representing 33% growth compared with the Rs 2,510 crore posted in the same period last year.

These figures do not include financials from OYO’s recent acquisition of G6 Hospitality, as that deal took effect in the third week of December last year.

India and the US remain OYO's top markets 

The report further noted that India and the United States remained OYO’s strongest markets, though the company also noted significant gains in Southeast Asia and the Middle East.

The company's expanding international footprint has been a key driver of its recent performance. In August 2024, OYO acquired Paris-based premium rental homes company CheckMyGuest for Rs 230 crore in a cash and stock deal.

In another boost to OYO’s outlook, global rating agency Moody’s upgraded the company’s rating to B2 from B3 and maintained a stable outlook. Moody’s projects OYO’s EBITDA will reach $200 million in FY25-26, its first full fiscal year of earnings consolidation with newly acquired businesses.