Oyo said it filed the addendum to the draft red herring prospectus (DRHP) on September 19 for its initial public offering (IPO).
OYO, the Softbank-backed hotel aggregator, has reported an EBITDA of Rs 7 crore (around $1 mn) adjusted for the first quarter of FY23 and driven by an increase in gross booking value (GBV) and improved unit economics.
Note: EBITDA is net income (earnings) with interest, taxes, depreciation, and amortization added back.
EBITDA margins increased marginally by +0.5 percent in Q1 FY23, from -44 percent in FY21 and -9.9 percent in FY22. Oyo said it filed the addendum to the draft red herring prospectus (DRHP) on September 19 for its initial public offering (IPO).
Oyo reported a loss of Rs 1,939.8 crore for FY22, down from Rs 3,944 crore in FY21. For the June ended quarter losses were at Rs 413 crore.
The biggest shift in the financials appears to be in the monthly gross bookings value per hotel, with a 47 percent growth in Q1 FY23 to Rs 3.25 lakh vs 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. The vacation homes business monthly gross bookings per home have also improved marginally to Rs 39,000 in the first quarter of FY 23.
Emerging from the impact of Covid-19, Oyo’s revenue from operations increased 21 percent to Rs 4,781.4 crore in FY22 from Rs 3,961.6 crore in FY2021 due to a recovery in travel demand as restrictions on movement lifted across key markets. The revenue growth momentum seemingly continued with Q1 FY23 revenue being reported as Rs 14,593 million.
