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Oravel Stays, the parent company of Oyo, is expected to report its first-ever profit after tax (PAT) in the current quarter. Oyo’s founder and CEO, Ritesh Agarwal, shared this news in an email to the company’s top management. He also highlighted the company’s growth in revenue and reduction in losses in the past year. Agarwal mentioned the potential for growth in markets like the US and UK and emphasized the company’s focus on customer needs and innovative technologies. Despite pruning the number of hotels, Oyo still has the largest hotel network in India and Southeast Asia.
