Oravel Stays Ltd, the parent company of hospitality chain OYO, recently told its employees at a townhall meeting that it is likely to be EBITDA positive for the first time in the current fiscal year FY23.
According to sources, the IPO-bound startup stated in a presentation that its adjusted EBITDA is expected to triple to INR 185 Cr during the second half of FY23 compared to the first half of the fiscal. According to the draft red herring prospectus (DRHP) filed with the Securities and Exchange Board of India (SEBI), the traveltech startup’s adjusted EBITDA in the first half of FY23 was INR 63 Cr.
Disclaimer
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
