OYO's net loss widens to Rs 2,385 cr for FY19

New Delhi, Nov 26 () Hospitality firm OYO Hotels and Homes net loss widened to Rs 2,384.69 crore for the fiscal year ended March 31, 2019, as per a valuation report filed by the company with Registrar of Companies.

The company had posted the net loss of Rs 360.43 crore for the preceding fiscal, the report said.

Revenue from operations of the company rose to Rs 6,456.90 crore for the fiscal 2018-19, as against Rs 1,413.02 crore in the previous fiscal, it added.

The financial results are unaudited and have been prepared by the company's valuers and not by its auditors, the company said.

The numbers referred are not yet audited financials. These are based on a valuation report prepared by OYO's valuers and not auditors that includes certain provisional financials for FY 19, an OYO Spokesperson said in a statement.

It may be pointed out that the valuation parameters such as share prices are based on fair market value and are not reflective of the share premium price, it added.

"We would like to clarify again that these are not the final audited financials and the same will be issued later by the company along with the annual report that we issue every year and file with the RoC as well," the statement said.

As per the report, major expenses incurred by the company was on account of operating expenses, which rose to Rs 6,131.65 crore for the fiscal year ended March 2019 from Rs 1,246.84 crore for the fiscal year ended March 2018.

The employee benefit expenses also rose steeply to Rs 1,538.85 crore for the fiscal under consideration, it added.

The report by the Gurugram-based registered valuer pegged its post money valuation of the company at USD 5.32 billion ( Rs 36,658.34 crore) as of June 2019. AKT AKT BAL BAL