OYO reports ₹158 crore net profit in Q2: Founder Ritesh Agarwal

Travel tech platform OYO achieved a profit after tax of ₹158 crore in the second quarter of the current fiscal ended September, Founder Ritesh Agarwal told employees in a town hall on Thursday, sources said.

Oravel Stays Ltd, the parent company of OYO, had posted a loss of ₹50 crore in the same period of the previous year.

During the first quarter, OYO's profit after tax stood at ₹132 crore.

This brings the company's H1 FY25 net profit to ₹290 crore (USD 35 million), marking a turnaround from the ₹91 crore net loss reported in the same period of the previous fiscal, the sources said.

In Q2 FY25, OYO's revenue surged to ₹1,578 crore, from ₹1,413 crore in Q1.

OYO recently announced its acquisition of G6 Hospitality, a US-based economy lodging franchisor and parent company of the iconic Motel 6 and Studio 6 brands, from Blackstone.