Softbank-backed Indian hotel aggregator Oyo Hotels and Homes Pvt Ltd reported a smaller loss for the July-September period compared with the previous quarter, in an update to its initial public offering prospectus issued on Saturday. The company reported a net loss of 3.33 billion rupees ($40.77 million) in the second quarter of the financial year, compared with a loss of 4.14 billion rupees in the first quarter. The company’s financial year runs from April 1 to March 31.
Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) for the second quarter rose to Rs 560 crore from Rs 70 crore in the first quarter. Adjusted EBITDA refers, among other things, to profit adjusted for asset depreciation and hotel conversions, according to the company’s prospectus. The company reported a 24% increase in revenue during the first half to 29.05 billion rupees. It did not publish quarterly sales figures.
Monthly revenue per hotel, or gross booking value, rose 69% year-on-year to Rs 348,000 crore. Oyo Hotels first went public in October 2021, but the share sale was delayed due to market conditions.
