Oyo’s India business Ebitda-positive: Founder & Group CEO Ritesh Agarwal

Hospitality firm OYO’s India business is now EBITDA positive and the company is earning the same gross profits globally in dollars since January 2021 as it did in the pre-Covid period, the firm’s founder and Group CEO Ritesh Agarwal told employees in an e-mail on Wednesday.

“OYO is on a steady path of resurgence in 2021 and we are seeing signs of recovery across India, Europe, and Southeast Asia. OYO’s survival through the Covid crisis and our resurgence show that we are a company with strong fundamentals and high value potential,” the e-mail accessed by PTI says.

OYO earned the same money since January 2021 as it did in the pre-Covid period. This is a very big achievement and demonstrates demand recovery and results of a revenue-share-only-network, he added.