OYO-owned coworking space provider Innov8 has reported a dramatic fall in profitability for FY25, with its net profit plunging nearly 97% year-on-year to INR 1 crore, compared to INR 33 crore in FY24. The steep decline comes at a time when the broader coworking and flexible workspace industry in India has been experiencing steady demand recovery post-pandemic, but also facing heightened competition and rising operational expenses.
Revenue Growth Slows Amid Rising Costs
According to regulatory filings, Innov8’s operating revenue stood at INR 186 crore in FY25, reflecting a modest 10% year-on-year increase from INR 169 crore in FY24. While the topline growth indicates continued demand for co
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