You can be on Entrepreneur’s cover!

Oyo Records Revenue Of INR 1459 Crore In Q1 The company is internally working towards a January IPO as executives are encouraged by a pick-up in demand

By Teena Jose

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Oyo Twitter handle

Oyo, a hospitality and travel tech firm, has filed its fresh IPO documents on Monday, stating that the company has reported a revenue of INR 1459 crore in the three-month period ended on June 30, 2022.

As per reports, for FY22, revenue from contract with customers was at INR 4781 crore, In FY21, it was at INR 392 crore, INR 13168 crore at FY20. As per the regulatory filing, Oyo's restated loss for the three-month period stood at INR 414 crore. In the fiscal year ended at March 31, 2022 the company had posted a loss of INR 1940 crore.

As per available reports, the Softbank-backed company currently aims at an initial public offering in early 2023 provided that India's stock market continues to hold up and economic conditions will improve. The company is internally working towards a January IPO as executives are encouraged by a pick-up in demand.

Oyo's number of storefronts stood at 1.68 lakh as on March 31, 2022 whereas it was 168,012 as on June 30, 2022. "The growth in our business was primarily driven by organic growth in the number of storefronts. The decrease in the number of storefronts for the hotels was largely due to the measures that the we took to improve our gross bookings value (GBV) per storefront per month, including temporarily pausing operations for storefronts that were operating at subpar GBV per storefront per moth levels and delivering an unsatisfactory customer experience," said the company in a filing.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.
Business News

Elon Musk Reveals When Tesla Will Release Its First Robotaxi

Tesla's CEO says the fully autonomous Tesla taxi is arriving soon — in 122 days.

Business News

A Non-Profit Newspaper Published a Column Criticizing Facebook. Then Meta Blocked All of Its Posts.

Facebook's communications chief said that the posts were removed because of "a mistaken security issue."

Real Estate

How PR Can Build Trust and Credibility for Real Estate Brands

Follow these insights and actionable tips for leveraging PR to enhance the reputation and visibility of your real estate brands.


Is the Company Tagline You Want to Use Already Someone Else's Trademark? Here's How to Avoid Legal Issues and Infringement.

Emphasizing the importance for small business owners to ensure that their chosen company taglines or trademarks are not already registered, to avoid potential legal issues and infringement on someone else's intellectual property.

Business News

Walmart Shoppers May Be Eligible for $500 After Settlement

Walmart shoppers who purchased weighted goods or bagged citrus in the U.S. or Puerto Rico from late 2018 through early 2024 might be eligible for a share of a $45 million settlement.

Business News

Total Solar Eclipse 2024 Live Feed: Where, When and How to Watch the 2024 Eclipse

Here's what to know about the total eclipse 2024 and a live stream from NASA.