OYO PAT rises nearly 6X to Rs 166 cr in Q3

Travel tech unicorn OYO recorded a profit after tax (PAT) of Rs 166 crore in the third quarter ended December 2024, up nearly six times from Rs 25 crore in the year-ago period, sources said.

The company's revenue in the third quarter rose to Rs 1,695 crore, growing almost 31% from Rs 1,296 crore a year earlier, marking a turnaround from the flat topline growth seen in FY24.

According to documents accessed by PTI, the company achieved an adjusted EBITDA of Rs 249 crore in the October-December period of FY25, registering a 22% increase from Rs 205 crore a year ago.

Notably, the gross booking value (GBV) reached Rs 3,341 crore, showing a 33% growth from Rs 2,510 crore in Q3 FY24. These figures exclude G6 Hospitality's financials as the acquisition was effective in the third week of December.

For the first nine months of FY25, OYO reported a PAT of Rs 457 crore, compared to a loss of Rs 111 crore in the same period last year, as per its provisional financials.

A source close to the company told PTI, "OYO was able to demonstrate its ability to run profitable operations, but the topline growth trajectory was a question mark. The renewed focus on revenue growth has borne results with the company showing a 31% increase in topline."

The company's growth was primarily driven by strong performance in its core markets of India and the US while emerging markets in Southeast Asia and the Middle East also contributed significantly.

The company's recent strategic initiatives include premiumisation efforts of its India portfolio, the acquisitions of US-based hotel major G6 Hospitality and Paris-based rental home player Checkmyguest.

Global Rating agency Moody's had upgraded OYO's rating to B2 from B3 and maintained a stable outlook. It estimates that OYO's EBITDA will reach $200 million in FY25-26, which will be its first full year of earnings consolidation with its newly acquired businesses.

The company did not respond to queries seeking official comment on these numbers.