Oravel Stays that operates Oyo budget hotels has reported stronger financial results for the financial year that ended March 2017. The company reported a loss from continuing operations of Rs 330.97 crore, a drop of more than 33% for fiscal 2017, compared to Rs 496.31 crore for the previous financial year.
Company’s Other Expenses
The company revealed different costs of Rs 226.91 crore for monetary 2017, contrasted with 390.14 crore for the past money related year. It, nonetheless, did not detailed what other expenses represented.
Oravel Stays sees Fourfold Rise
Oravel Stays, which shut a $260 million financing round in September a year ago, saw a fourfold ascent in its aggregate income, to Rs 102.19 crore. This ascent in budgetary year 2016-17, has been to a great extent driven by the organization seeing its net booking esteem nearly multiplying to Rs 797.88 crore, which has been additionally pumped up by the organization seeing an over 88% ascent in utilized room evenings.