Oyo’s revenue from operations at Rs 1,459.3 crore for Q1FY23; files addendum to DRHP with Sebi

As per the latest financials filed with Sebi, the company reported Rs 7 crore adjusted EBITDA in the quarter.

Oyo said its revenue from operations went up 21% to Rs 4781.4 crore in financial year 2022 from Rs 3962 crore in financial year 2021 due to recovery in travel demand as restrictions on movement lifted across its key markets. Its restated loss for FY22 from continuing operations was at Rs 2140 crore, down from Rs 4,103 crore in FY21.

The firm reported a 47% growth in its gross bookings value per hotel in Q1FY23 at Rs 3.25 lakh versus 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.

As per the reported financials, Oyo’s total costs were at Rs 6,984.0 crore in FY22 as against Rs 6,937.0 crore in FY21. Oyo has claimed its general and administrative expenses reduced 44.4% from Rs 927 crore in FY21 to Rs 515.4 crore in FY22. The employee expenses, net of Esop-based compensation, also reduced 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 Q1FY23, up from 1.57 lakh at the end of FY21. As per the filing, the company acquisitions included that of Croatian vacation rental company Direct Booker.

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In August this year, Oyo had said it had concluded the acquisition of Europe-based holiday homes operator Bornholmske Feriehuse through its subsidiary DanCenter. The company said the move was a part of its endeavor to ‘expand’ as a full-stack vacation homes provider.

ET reported this month that
Oyo is looking at a deeper presence in the Southern markets and is planning to add around 600 new hotels and homes in South India by December this year.