Friday, 24 March, 2023

IPO-bound OYO Reports Net Loss Of Rs 333 crore; EBITDA Jumps B

<p>OYO, a travel technology business, recorded a net loss of Rs 333 Cr in the second quarter, down from Rs 414 Cr in the first quarter. On Saturday, the firm reported its first-quarter results to the Securities and Exchange Board of India (SEBI). In the first and second quarters, OYO&#39;s adjusted EBITDA increased eightfold, from Rs 7 Cr to Rs 56 Cr. The IPO-bound business also stated in its addendum that sales in the first half of FY23 increased by 24% to Rs 2,905 Cr.</p>