OYO Reports Revenue At Rs 1,459 Crore In April-June

Hospitality and travel-tech firm OYO has reported a revenue of Rs 1,459.32 crore in the three-month period ended June 30, 2022, according to a regulatory filing.

The IPO-bound company, which had last year in October filed preliminary papers with Sebi to raise Rs 8,430 crore through an initial share sale, also posted an "adjusted EBITDA" of Rs 7.27 crore in the quarter ended June 30, 2022.

"Our revenue from contracts with customers for the three-month period ended June 30, 2022 was Rs 14,593.17 million," OYO said in an updated filing to Sebi.

For FY22, revenue from contract with customers was at Rs 4,781.4 crore. In FY21 it was at Rs 3,961.65 crore; Rs 13,168.15 crore in FY20 and Rs 6,329.74 crore in FY19, it added.

In the quarter ended June 30, 2022, adjusted EBITDA stood at Rs 7.27 crore, improving from adjusted EBITDA loss of Rs 471.72 crore in FY22, the filing added.

According to the filing, OYO's restated loss for the three-month period ended June 30, 2022 stood at Rs 413.87 crore. In the fiscal ended March 31, 2022 it had posted a loss of Rs 1,939.8 crore.

OYO said its total number of 'storefronts' was down at 1,68,012 in the quarter ended June 30, 2022 from 1,68,639 as on March 31, 2022 due to a decrease in the number of hotels to 12,668, sequentially down from 17,994 in the fiscal ended March 31, 2022.

"The decrease in the number of storefronts for our hotels business was largely due to measures that we took to improve our GBV (Gross Booking Value) per storefront per month, including temporarily pausing operations for storefronts that were operating at subpar GBV per storefront per month levels and delivering an unsatisfactory customer experience," the filing said.

On the other hand, there was an increase in the number of homes at 77,898 in the quarter ended June 30, 2022, sequentially up from 73,177 in FY22, it added.

The hospitality firm said its gross booking value (GBV) for the quarter ended June 30, 2022 was at Rs 2,487.09 crore.