OYO, an IPO-bound travel tech platform, has forecast a threefold increase in profit after tax for the current fiscal year to more than Rs 700 crore, according to Founder and CEO Ritesh Agarwal during a town hall on Wednesday. Earlier this year, OYO announced its first-ever profit after tax of roughly Rs 229 crore for FY24.

According to insiders, Agarwal disclosed the company's provisional net profit data for Q1 and FY25 at the employee town hall.

According to Agarwal, OYO generated a net profit (PAT) of around Rs 132 crore in Q1 FY 2025, a significant improvement from the Rs 108 crore loss reported in the same quarter the previous fiscal year. He further stated that the company expects its PAT to increase thrice to more than Rs 700 crore in the current fiscal year. According to a presentation shared at the town hall, the company's FY24 profitability, growth in key markets, and expected reduction in interest expenses have boosted confidence in achieving a projected net profit of more than Rs 700 crore, potentially tripling Earnings Per Share (EPS) from 36 paise to nearly Rs 1.

The OYO Founder further shared that the company's recent strategic partnership with Checkmyguest in France and the investments made in Denmark are expected to accelerate its growth in Europe. "In the US, we're opening a new property every three days, reflecting a very strong momentum in the world's largest economy. Additionally, we are now the largest value hotel platform in Indonesia. These achievements, along with our success in other key regions, strengthen our confidence in reaching our profit goals," Agarwal said.