Oyo posts maiden annual net profit of Rs 100 crore in FY24: Ritesh Agarwal

Travel tech platform Oyo has posted its maiden annual net profit of Rs 100 crore for FY24, founder and group CEO, Ritesh Agarwal said in a post on X on Thursday.

“We had our maiden net profitable financial year at nearly Rs 100 crore. This (January-March) was our eighth consecutive quarter of a positive Ebitda and we also have a cash balance of about Rs 1,000 crore,” Agarwal said, adding that the numbers were provisional, but the audited financials will likely be close to these.