Oyo made a hat-trick of profit in Q3, tremendous growth in revenue also
Oyo, India’s leading hotel and lodging technology company, has once again surprised everyone with its recently announced third-quarter results. The company has not only registered a tremendous growth in profits in this quarter but has also seen a jump of 31% in revenue.
6 times jump in profits
Oyo said that the company’s profit in the December quarter has increased 6 times compared to the same period last year. This growth is a result of the company’s consistently improved performance and efficient cost management.
Along with this, the company’s revenue has also increased at the rate of 31%. This growth is a testament to the success of OYO’s strategy of expansion and entering new markets.
The management of OYO expressed happiness over this excellent performance and said that it is an important achievement for the company. He said that this growth is the result of hard work and dedication of the company’s employees.
Analysts have described Oyo’s results as quite positive. He believes that Oyo is emerging as a major player in the Indian hotel industry.
Disclaimer: This article is for informational purposes only and should not be considered as financial advice. Please consult with a financial advisor before making any investment decisions.