OYO turns EBITDA Positive and files new documents with SEBI

IPO-bound hospitality tech OYO has reported its first EBITDA-positive quarter, with adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) of INR 7.26 Cr in Q1 FY23. OYO's EBITDA margins increased to +0.5% in Q1 FY23 from -9% in Q1 FY22.

The hospitality technology company filed an addendum to its draught red herring prospectus (DRHP) for its initial public offering with the Securities and Exchange Board of India (SEBI). The company reported losses of INR 1,939.8 Cr in FY22, a 51% decrease from INR 3,944.8 Cr in FY21 and an 85% decrease from INR 13,123.5 Cr in FY20. OYO has filed new documents with SEBI due to the narrowing of losses.

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