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

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.