Oyo cuts losses to 10% of overall sales in 2018-19
3 April 2019 5:49 AM IST
In value terms, however, Oyo's losses are estimated to have risen to ?51.18 crore in 2018-19 from ?36 crore in 2017-18.Oyo has more than halved its net loss from 45% of overall sales to 20% in 2017-18 and plans to bring it down further
- Ltd) has cut its estimated net loss to a tenth of its overall sales in 2018-19 even as it continued to focus on expanding in India and South Asia, said Aditya Ghosh, the company's chief executive officer.
- The five-year-old startup, which on Monday received $200 million funding from home sharing platform Airbnb Inc. as part of its Series E funding round, has been on an expansion spree , entering China and Japan in the past one year.
- So far, Oyo has invested around ₹ 1,400 crore on expanding its business in India and South Asia.
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