OYO posts maiden annual net profit of ₹100 crore: What Ritesh Agarwal said

OYO reported financial year 2023-24 as the maiden profitable fiscal with a net earning of nearly ₹100 crore, its founder Ritesh Agarwal said. On X (formerly Twitter), he said that the company sees growth ahead "not just in India" but also in other key markets of Nordics, South East Asia, the US and UK.

"While a delighted customer or a hotel partner brings the biggest smile on my face, our first cut financials of FY24 have me humbled as well," he said. 

"We had our maiden net profitable financial year at nearly ₹100 crore. This was our eighth consecutive quarter of a positive EBITDA and we also have a cash balance of around ₹1,000 crore," he added.