A decade in, OYO finally has a clean profit with 172% jump

OYO, the homegrown hospitality unicorn once mired in controversy and cash burn, has turned a decisive corner. In FY25, the company posted a record profit after tax (PAT) of Rs 623 crore, making it the most profitable Indian startup this year. This marks a 172% jump from its Rs 229 crore profit in FY24, signalling a remarkable transformation in the business fundamentals of the travel-tech firm.

Founded by Ritesh Agarwal in 2013, OYO’s meteoric rise was initially powered by its goal to standardise India’s fragmented budget hotel landscape. Starting as Oravel Stays in 2012, the company rebranded to OYO (short for “On Your Own”) with a simple value proposition: affordable, quality stays with consistent amenities like clean linens, air conditioning, and free Wi-Fi.