Surge in bookings, cost cutting fuel 8-fold surge in IPO-bound OYO's Ebitda

Spike in adjusted Ebitda primarily driven by a 23% QoQ rise in Gross Booking Value per hotel in Q2 to Rs 4,00,000; firm still ends with Rs 333 cr loss

IPO-bound hospitality major OYO recently recorded an eight-fold increase in its adjusted Ebitda, from Rs 7 crore in Q1FY23 to Rs 56 crore in Q2FY23. This has been fueled by the company's move to put a leash on runaway expenses, and an increase in bookings as consumer travel returns, according to company filings.

The hotel aggregator shared its H1 financials with Sebi as a part of its commitment to update its Draft Red Herring Prospectus with the financial performance till the first half of FY23. Sebi had permitted OYO to submit updated financials before it examined and finally processed the