SoftBank-backed Oyo Rooms' net loss narrows in FY21, revenue dips 54%

OYO in Manali, India. Photo: OYO Rooms

 Oravel Stays Limited, operator of hospitality brand Oyo Rooms which has a network of budget hotels, reported a 54% year-on-year decline in revenue for fiscal 2020-21 to 89 crore.

The company reported a net loss of 241 crore during the fiscal, lower than 326 crore in FY20.

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