Oyo Revenue News: Oyo operating revenue at Rs 1,459.3 crore for Q1FY23; submits the amendment to the DRHP with Sebi

Home Business I hear reported operating revenue of Rs 1,459.3 crore in the first quarter of fiscal 2023 according to an addendum filed with Sebi. Its restated loss for the quarter from continuing operations was Rs 414 crore, even as the company said it was its first EBITDA-positive quarter.

According to the latest financial statements filed with Sebi, the company reported adjusted EBITDA of Rs 7 crore in the quarter.

Oyo said its operating revenue increased by 21% to Rs 4,781.4 crore in FY2022 from Rs 3,962 crore in FY21 due to the recovery in demand for travel as movement restrictions were lifted in its main markets. Its FY22 restated loss from continuing operations was Rs 2,140 crore compared to FY 21 Rs 4,103 crore.

The company reported a 47% growth in the gross value of its bookings per hotel in Q1FY23 to Rs 3.25 lakh from Rs 2.21 lakh for FY22. The filing attributes this to the recovery in travel demand due to the easing of travel and domestic movement restrictions in the markets where it operates.

According to the reported financial statements, Oyo’s total costs were Rs 6,984.0 crore in FY22 compared to Rs 6,937.0 crore in FY21. Oyo claimed that its general expenses and administrative expenses were reduced by 44.4% from Rs 927 crore in FY21 to Rs 515.4 crore in FY22. ‘Esop, also reduced by 26.5% to Rs 1,117.2 crore in FY22 from Rs 1,520.4 crore in FY21.

Oyo said its “storefronts” were at 1.68 lakh at the end of the first quarter of FY23, down from 1.57 lakh at the end of FY21. According to the filing, the company’s acquisitions included that of the Croatian holiday rental company Direct Booker.

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In August this year, Oyo announced that it had completed the acquisition of European holiday home operator Bornholmske Feriehuse through its subsidiary DanCenter. The company said the move was part of its effort to “grow” as a provider of full-stack vacation homes.

ET reported this month that
Oyo seeks to strengthen its presence in Southern markets and plans to add about 600 new hotels and homes in South India by December this year.

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