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Top headlines: Oyo posts positive core earnings; Ola lays off 200 engineers

Jawahar Lal Goel has tendered his resignation from Dish TV India's board and has ceased to be the Chairman of the company, the company announced in a notice to the stock exchange.

Photo: OYO Hotels & Homes
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Photo: OYO Hotels & Homes

BS Web Team New Delhi
Oyo reports its first EBITDA positive quarter, reduces FY22 losses

OYO, the Softbank-backed hotel aggregator, has reported an EBITDA of Rs 7 crore (around $1 mn) adjusted for the first quarter of FY23 and driven by an increase in gross booking value (GBV) and improved unit economics.

EBITDA margins increased marginally by +0.5 per cent in Q1 FY23, from -44 per cent in FY21 and -9.9 per cent in FY22. Oyo said it filed the addendum to the draft red herring prospectus (DRHP) on September 19 for its initial public offering (IPO). Read more

Laying off 200

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First Published: Sep 19 2022 | 4:55 PM IST

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