Oyo posts first-ever annual profit of Rs 229 crore in FY24, eyes expansion

During the financial year 2023-24 (FY24), hospitality major Oyo reported its first-ever profit after tax (PAT) of Rs 229 crore, according to the company’s annual report.

This comes on the back of eight consecutive quarters of positive-adjusted earnings before interest, taxes, depreciation and amortisation (Ebitda).

The company’s adjusted Ebitda grew by 215 per cent to Rs 877 crore during the year from Rs 277 crore in FY23.