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Oravel Stays Ltd, the parent company of hospitality chain OYO, recently told its employees at a townhall meeting that it is likely to be EBITDA positive for the first time in the current fiscal year FY23.
According to sources, the IPO-bound startup stated in a presentation that its adjusted EBITDA is expected to triple to INR 185 Cr during the second half of FY23 compared to the first half of the fiscal. According to the draft red herring prospectus (DRHP) filed with the Securities and Exchange Board of India (SEBI), the traveltech startup’s adjusted EBITDA in the first half of FY23 was INR 63 Cr.
