Skip to content

SoftBank-Backed Oyo Posts Narrower Loss After Curbing Expenses

An Oyo Hotel in Tokyo, Japan.
An Oyo Hotel in Tokyo, Japan.Photographer: Toru Hanai/Bloomberg

Oyo Hotels, the once high-flying Indian startup, reported a narrower quarterly loss after curbing spending to cope with a slow recovery in travel following the pandemic.

The loss shrank to 3.33 billion rupees ($40.8 million) in the three months through September from 4.14 billion rupees in the preceding quarter, the company said in a statement. Revenue was little changed at about 14.5 billion rupees.