SoftBank's Oyo reveals over $330 million annual loss despite revenue surge
Updated : November 26, 2019 10:19 AM IST
The losses highlight a period of rapid expansion by Oyo into markets such as China, the United States and the United Kingdom, which has made the six-year-old startup one of the world's biggest hotel chains by room count.
Oyo reported a net loss of 23.85 billion rupees ($332 million) in the year to March 2019, compared with a loss of 3.6 billion rupees a year earlier.
Revenue from operations surged to 64.57 billion rupees ($900 million) from about 14.13 billion rupees a year earlier.