Pandemic brings OYO to break- even point with $30 Mn monthly expense: SoftBank’s Rajeev Misra
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Hotel and hospitality unicorn OYO has reduced its monthly expenses by nearly $70 Mn from $100 Mn pre-Covid to $30 Mn. The company is also clocking in nearly $25-30 Mn per month, and is achieving break-even, chief executive of SoftBank Investment Advisers Rajeev Misra highlighted during the ET Global Business Summit held on September 24. Due to Covid-19, OYO faced a massive crunch in its cash flow and revenues.