OYO-owned Innov8 claims Rs 62 Cr net profit in FY24

OYO-owned Innov8 has reported a net profit of INR 62 crore in FY24, showing robust growth despite challenges. Innov8, a co-working space provider, has shown remarkable growth in its financial performance. The company, which operates across major Indian cities, benefited from the increasing demand for flexible office spaces, especially post-pandemic. Innov8’s success highlights the growing trend of businesses opting for shared office spaces rather than long-term leases, driven by cost-efficiency and flexibility. Innov8’s profitability in FY24 underscores the resilience of the flexible workspace industry in the current economic environment, positioning the company as one of the key players in the co-working sector.