HospitalityBiz India
Hotels FoodService Operations Ministry Associations Equipment Editorial HR Technology Technology Advisory Board Community
Follow us on Facebook Follow us on Twitter instagram
    Home > F&B Overview > News
NEWS

OYO loss drops by a third, sales jump

Tuesday, January 2, 2018, 12:00 Hrs  [IST]
HBI Staff | Mumbai

According to a report in The Economic Times, Oravel Stays, which owns and operates the OYO brand of budget hotels, has reported stronger financial results for the financial year ended March 2017, during which the company saw its losses drop by a third, while its topline has increased four-fold over the same period. 

The company reported a loss from continuing operations of INR 330.97 crore, a drop of more than 33% for fiscal 2017, compared to INR 496.31 crore for the previous financial year, according to its standalone financial statement accessed from research platform Tofler. 

The narrowing of loss for the 12-month period ended March 31, 2017 was primarily due to a sharp drop in expenses. The company reported other expenses of INR 226.91 crore for fiscal 2017, compared to INR 390.14 crore for the previous financial year. Separately, Oravel Stays, which closed a USD 260 million funding round in September last year, saw a fourfold rise in its total revenue, to INR 102.19 crore. 

The rise in topline for the financial year 2016-17, has been largely driven by the company seeing its net booking value almost doubling to INR 797.88 crore, which has been further pumped up by the company witnessing a more than 88% rise in used room nights.

 
Print News Email News Back
Bookmark to Add to NewsvineNewsvine Bookmark with del.icio.usdel.icio.us Digg ItDigg
Add RSS to Add to Google Add to My Yahoo! Subscribe with Bloglines Subscribe
 POST A COMMENT
* Name :    
* Email :    
* Message :  
   
 
CoverStory
Analysis
 
  Premium Italian furniture brand Flou opens flagship store in Delhi
  Philips Lighting adds one more LightLounge with Hue Premium Zone concept in Bengaluru
 
weekly
Receive the best of Hospitality content in your mailbox.
Weekly e-Newsletter
Events Calendar
OTM
Bombay Convention & Exhibition Centre, Mumbai
January 18-20, 2018
SATTE
Pragati Maidan New Delhi
January 31 to February 2, 2018
Events
 
 
people
interview
newappoint
expert
© Copyright 2016 Saffron Synergies Pvt Ltd
HOME   |   ABOUT US   |   CONTACT US   |   FEEDBACK   |   DISCLAIMER   |   SITE MAP   |   ARCHIVES