Oravel Stays, the parent company of Oyo, is expected to report its first-ever profit after tax (PAT) in the current quarter. Oyo’s founder and CEO, Ritesh Agarwal, shared this news in an email to the company’s top management. He also highlighted the company’s growth in revenue and reduction in losses in the past year. Agarwal mentioned the potential for growth in markets like the US and UK and emphasized the company’s focus on customer needs and innovative technologies. Despite pruning the number of hotels, Oyo still has the largest hotel network in India and Southeast Asia.
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Oyo set to report its first-ever profit, here’s what CEO told senior management
Oravel Stays, the parent company of Oyo, is expected to report its first-ever profit after tax (PAT) in the current quarter. Oyo’s founder and CEO, Ritesh Agarwal, shared this news in an email to the company’s top management. He also highlighted the company’s growth in revenue and reduction in losses in the past year. Agarwal mentioned the potential for growth in markets like the US and UK and emphasized the company’s focus on customer needs and innovative technologies. Despite pruning the number of hotels, Oyo still has the largest hotel network in India and Southeast Asia.
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.
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