Oyo Hotels Reported Net Loss of Rs 333 Crores in the second quarter results.
Image By- ET
Despite the company's losses, some expenses increased.
Image By- OYO
Employee expenses constituted 18% of revenues, while marketing expenses constituted 14%.
Oyo Hotels and Homes is one of the biggest hospitality brands in the world by room count.
The company also has a European Homes Division. It reported a 4% increase in gross rentals.
Its total GBV increased 33 per cent to Rs 5,028 crore in the first half of the fiscal year.
The company also reported a 24% increase in revenues to Rs 2,905 crore.
According to Oyo Hotels Reported Net Loss, the company's India business is likely to make losses.
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