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Oyo says annual loss grew over six-fold on China expansion

Updated : February 17, 2020 05:07 PM IST

The news comes weeks after Oyo began laying off roughly 2,000 employees in India, as it inches toward profitability, and days after its major investor SoftBank Group reported dismal quarterly results.
Oyo's consolidated net loss after tax widened to $335 million in the year ended March 31, 2019, the company said in a statement.
Oyo says annual loss grew over six-fold on China expansion

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