November 27, 2019 07:57 AM
NEW DELHI: Oyo Hotels & Homes posted a net loss rise to of Rs 2,384.69 crore in the last fiscal (2018-19). According to the valuation report filed by the Registrar of Companies, the net loss in 2017-18 was Rs 360.43 crore. Operating income increased from Rs 1,413.02 crore to Rs 6,456.90 crore.
The company said the financial results were not prepared by the auditors, but rather by the valuers. Operating expenses increased from Rs 1,264.84 crore in March 2018 to Rs 6,131.65 crore in March 2019.
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The rise in total expenses comes at a time when the company has been expanding aggressively into overseas markets, particularly in China, where it has committed huge amount of capital, along with the US and the UK, among others.