A recovery in travel means Oyo is set to check into public markets in better shape.
18% to 49 billion rupees in the year to March. Expenses were almost flat even though its debt service costs ballooned 86% after issuing an offshore syndicated loan last year. Crucially, the company's adjusted EBITDA turned positive in the three months to June.
The uplift was reported in an addendum to its draft initial public offering document first filed a year ago. Oyo’s top-line remains more than 60% off its pre-pandemic levels, though the business, which includes operations in Europe and India, has been restructured since then too.
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