OYO is anticipated to finish the quarter with almost Rs 90 crore surplus money movement.
OYO’s final reported treasury or money corpus on the stability sheet is round Rs 2,700 crore
Hospitality tech agency OYO turned money movement constructive for the primary time in the fourth quarter of FY2023. The firm’s founder & Group CEO Ritesh Agarwal shared the replace with OYO staff addressing a townhall nearly on Thursday, sources informed PTI.
The firm is anticipated to finish the quarter with almost Rs 90 crore surplus money movement, sources mentioned, attributing the rise in bookings throughout all key geographies, particularly in the Europe properties enterprise that’s witnessing unprecedented advance bookings each for the upcoming summer season season peak and the comparatively low season interval from November to March.
The firm’s final reported treasury or money corpus on the stability sheet is round Rs 2,700 crore. In a presentation shared in the townhall, Agarwal knowledgeable that OYO is predicted to clock adjusted EBITDA of almost Rs 800 crore for FY2024.
In March, OYO refiled its Draft Red Herring Prospectus (DRHP) with the inventory markets regulator Sebi beneath the not too long ago launched pre-filing route.
Read all of the Latest Business News, Tax News and Stock Market Updates right here
(This story has not been edited by News18 workers and is revealed from a syndicated information company feed)
