Oyo parent Prism reports $37 million quarterly profit

Prism, the parent company of Indian hospitality firm Oyo, has reported a net profit of 3.5 billion rupees ($37.2 million) for the first quarter of the 2026-27 fiscal year. The result includes a deferred tax credit of 2.4 billion rupees ($25.7 million), which accounts for the majority of the profit.

Operating revenue for the period rose by 35% compared to the previous year, reaching 28.1 billion rupees ($296 million). The growth figures come as the company continues to prepare for its entry onto the public markets.

In an October 26 filing with the Securities and Exchange Board of India, Prism adjusted its proposed initial public offering, reducing the size of the fresh share issue to 33.5 billion rupees ($353 million). The company also removed plans for a pre-IPO placement.

A significant portion of the capital raised from the offering, 25.1 billion rupees ($265 million), has been earmarked to repay or prepay existing borrowings held by a subsidiary.