OYO'S Q1 PAT MORE THAN DOUBLES TO RS 200 CR

IPO-bound travel tech platform OYO's profit after tax (PAT) more than doubled to Rs 200 crore in the first quarter, on the back of robust revenue growth, Founder Ritesh Agarwal shared in an email to the top management on Friday.

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The email, accessed by PTI, also mentions that the company's revenue grew 47 per cent to Rs 2,019 crore in the April-June period, from Rs 1,371 crore in the year-ago period. The revenue growth was led by premiumisation of hotel inventory and better room utilisation, Agarwal said in an email.

The gross booking value (GBV) reached Rs 7,227 crore in the first quarter of the current fiscal year, marking a significant 144 per cent increase year-on-year from Rs 2,966 crore a year earlier.

OYO had recorded a profit after tax of Rs 87 crore in the corresponding quarter of the previous year.