Oyo posted Rs 229 crore net profit in FY24, claims founder Ritesh Agarwal

Hospitality startup Oyo posted a net profit of Rs 229 crore for 2023-24, founder and chief executive Ritesh Agarwal said in a post on X.

“One big learning for me over the years is under-promise and over-deliver,” he said, while adding that the net profit had exceeded his earlier estimate of Rs 100 crore. “Now with Rs 0.36 EPS (earnings per share) done, now to Re 1 EPS and beyond at FY25. Lots of improvements still left to do. Proud of what we are building together,” he wrote on the microblogging site.