|
|
|
OYO logs FY19 revenue of $951 mn, net loss at $335 mn
|
|
|
|
Top Stories |
|
|
|
|
SME Times News Bureau | 17 Feb, 2020
OYO Hotels and Homes on Monday
reported a consolidated revenue of $951 million for the financial year
2018-19, over fourfold increase from $211 million as reported in the
previous fiscal.
However, the company's net loss also increased to $335 million, due to rise in expenses, the company said in a statement.
"The
inherent costs of establishing new markets, including those related to
talent, market-entry, operational expenses among others, resulted in an
increase in OYO's net loss percentage in the near-term, which grew from
25 per cent in FY18 to 35 per cent of revenue in FY19 to $335 million,"
it said.
Its losses in India, however declined to $83 million, as
per the company. In FY 2017-18 the net losses were at 24 per cent of
its revenue, while in FY 2018-19, it stood at 14 per cent of the
revenue.
OYO's revenue from India in fiscal 2018-19 stood at $604 million.
"In
mature markets like India, the focus of the company is to maintain
strong brand preference while ensuring we have a clear path to
profitability, enabled by accretive growth, operational excellence and
strong gross margin. In this context, this FY19, business operations in
India contributed to nearly 63.5 per cent or $604 million of this
consolidated figure as the business clocked a 2.9x (y-o-y) growth," it
said.
Nearly 36.5 per cent or $348 million of the revenue was
contributed by the company's operations outside India, primarily China,
it said.
|
|
|
|
|
|
|
|
|
|
|
|
|
Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
|
66.20
|
64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
|
|
Daily Poll |
|
|
PM Modi's recent US visit to redefine India-US bilateral relations |
|
|
|
|
|
Commented Stories |
|
|
|
|
|
|
|
|