Latest News | Innov8 Posts Net Profit of Rs 62 Cr in FY24

New Delhi, Dec 10 (PTI) OYO group's co-working firm Innov8 on Tuesday reported a net profit of Rs 62 crore in the last fiscal year.

The company in a statement said it has posted a "Profit After Tax (PAT) of Rs 62 crore in 2023-24 including one-time exceptional items compared to Rs 2.5 crore in FY 2023."

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Innov8 did not provide the revenue number for the last financial year.

Innov8 attributed the growth to its operating model which focuses on asset light expansion with minimum capex investment.

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The company currently operates over 45 centres spanning 17,000 seats across 10 major cities including Delhi-NCR, Mumbai, Bengaluru and Hyderabad.

It is planning to double its centers in 2025 shifting towards bigger centers with the seat capacity expected to expand to over 50,000.

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