Following a profit of INR 132 Cr in the previous quarter (Q1 FY25), Oravel Stays Ltd, the parent company of travel tech giant OYO, posted a net profit of INR 158 Cr in the second quarter of the current fiscal year that concluded in September. This represents a 19.6% sequential increase.
OYO CEO Ritesh Aggarwal presented the figures at a town hall today, according to sources who spoke to Inc42.

This increases the total net profit for the first half of FY25 to INR 291 Cr, a significant improvement over the net loss of INR 91 Cr recorded in the same period previous year.
This bottom-line recovery follows OYO's premiumisation strategy, which includes the development of company-serviced hotels under the Townhouse, Collection O hotels, Palette, and Sunday brands.
Following a similar trajectory, the company's revenue increased to INR 1,578 Cr in Q2 FY25, up 12% from INR 1,413 Cr in Q1 FY25.

According to the sources, OYO's EBITDA increased by 27.4% to INR 266 Cr in the second quarter of FY25, up from INR 174 Cr in the first quarter.

It is worth noting that the company's Gross Booking Value increased to INR 3,242 crore in Q2 FY25 from INR 3,048 crore in Q1 FY25. This represents a 17% increase over the INR 2767 crore reported in the same quarter the previous year.

"In a sense, OYO's quest for profitability has been similar to some of the new age platform companies with Zomato delivering Q2 FY25 PAT of INR 176 Cr and Makemytrip reporting PAT Q1FY25 of INR 174 Cr ($21 Mn)," a source close to the company said in response to the financials.

The company will post positive Adjusted EBITDA for eight straight quarters with these Q2 figures. With INR 229.57 Cr in profit after tax (PAT) for the fiscal year 2023–2024 (FY24), the corporation reported its first profitable fiscal year in August.

For $525 million (about INR 4,382.72 crore), OYOOYO Datalabs_in-article-icon revealed last month that it had acquired G6 Hospitality, the parent company of the Motel 6 and Studio 6 brands, from Blackstone Real Estate.

As a result of its recent acquisitions, sources revealed that the company is expecting to surpass INR 2,000 Cr in EBITDA in FY26, adding substantially to its topline.  This acquisition marked OYO’s US expansion since its launch in the region in 2019. Besides the US, the company is also looking to bolster its presence in Europe, where it earns higher revenue due to larger ticket sizes. 

To further consolidate its expansion spree, the company in August raised INR 1,457 Cr (around $175 Mn) in a down round led by Ritesh Agarwal floated Singapore-based entity Patient Capital, along with J&A Partners and ASK Financial Holdings. 

After delaying its initial public offering (IPO) plans twice, OYO is also getting ready to go public once more. After finishing the ongoing refinance of its $660 million Term Loan B, the business is allegedly planning to refile its DRHP with SEBI.