Oyo reports first net profit of Rs 229 crore in FY24

Travel tech firm, Oyo has reported its first-ever net profit at Rs 229 crore in FY24, as per its latest annual report. In a post on X on Wednesday, Ritesh Agarwal, Oyo founder, said that the numbers have exceeded his earlier estimate of Rs 100 crore for the 2023-24 fiscal year.

“One big learning for me over the years is under-promise and over-deliver. Our audited results are published post-adoption by the board. The effort of Oyopreneurs has delivered Rs 229 crore net profit, exceeding my earlier estimate of Rs 100 crore,” Agarwal said in the post.