Hospitality chain Oyo reports an adjusted EBITDA of Rs 56 crore in its quarter two financial results submitted to SEBI and has reported losses of Rs 333 crore, down from Rs 414 crore in the previous quarter.
The hospitality chain has filed its second addendum to update its Draft Red Herring Prospectus with the financial performance till the first half of FY 2022-23. SEBI permitted Oyo to submit updated financials before it examined and finally processed the company’s IPO application.
According to the results, the adjusted EBITDA for Q2 grew eight times from Rs 7 crore in Q1 to Rs 56 crore. It was primarily driven by a 23 per cent monthly rise in gross booking value per hotel during Q2 to around Rs 4 lakh.
According to the addendum in H1 of FY23 grew by 24 per cent year on year to Rs 2,905 crore. The adjusted EBITDA improved from a loss of Rs 280 crore in the first half of the financial year 2022 to a profit of Rs 63 crore in H1 FY23.
However, The adjusted EBITDA improved from a loss of Rs 280 crore in the H1 of FY 22 to a profit of Rs 63 crore in the latest half-year reported. Along with improving operating performance the company also has a cash corpus of Rs 2,785 crore.
The monthly revenue per hotel called Gross Booking value (GBV) per hotel per month comes out as the strongest element in the performance. It increased by 69 per cecnt year on year to Rs 3,48 lakh.
It was Founded in 2012 by Ritesh Agarwal and become one of India's unicorn firms and is a leading hospitality technology platform.