In a recent town hall meeting, Oravel Stays Ltd, the parent company of the hotel chain OYO, informed its staff that it is probably going to be EBITDA positive for the first time in the current fiscal year FY23.
The firm, which is preparing to go public, reportedly indicated in a presentation that it expects its adjusted EBITDA to increase by three times to INR 185 Cr in the second half of FY23 compared to the first half. The traveltech startup’s adjusted EBITDA for the first half of FY23 was INR 63 Cr, according to the draft red herring prospectus (DRHP) that was submitted to the Securities and Exchange Board of India (SEBI).
