IPO-bound Oyo eyes Rs 100 crore PAT in Q4, 20% revenue growth in FY24

The company has recently secured a Rs 200 crore credit line from JP Morgan to fuel its expansion plans

Oravel Stays, the parent company behind the travel tech brand Oyo, is eyeing to clock Rs 100 crore in Q4FY24 profit after tax (PAT) and a 20 per cent revenue growth for FY24, according to informed sources.

These numbers were part of an internal review meeting between founder Ritesh Agarwal and senior management earlier this week, where he spoke about the company’s profitability trajectory and growth in business.

“In a review meeting with Oyo’s leaders, Agarwal said this 3X sequential growth in profit is a result of steady topline growth and improved user confidence,” said the source. In an email