The improvement in the firm’s profit after taxes has come on the back of Oyo’s premiumisation focus with the launch of company-serviced hotels under its Townhouse banner, and other hotel brands, Agarwal told employees, one of the persons said.
The SoftBank-backed firm reported gross booking value of Rs 3,243 crore during the September quarter, up 17% from the same period last year. It recorded Rs 1,578 crore in revenue for the three months.
The hospitality company had made a loss of Rs 50 crore in the same period last year