OYO clocked Rs 175 cr adjusted EBITDA in Q1

NEW DELHI: IPO-bound OYO clocked an adjusted EBITDA of Rs 175 crore in the first quarter of the current financial year ended June, CEO Ritesh Agarwal told employees in a townhall on Monday, according to sources. The travel tech firm had an EBITDA of nearly Rs 7 crore in the same quarter last fiscal, therefore it has witnessed a 25 times jump year-on-year. Addressing the townhall, Agarwal expressed confidence that OYO will achieve or probably surpass its previously stated target of Rs 800 crore EBITDA for the full financial year, sharing that increased focus on customer experience and quality improvement measures will drive the firm's growth during FY24, sources said.