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Indonesia’s GoTo Group has reported a quarterly profit on an adjusted basis, marking a significant milestone in its cost-cutting efforts. For the three months ending in September, the company achieved an adjusted earnings before interest, taxes, depreciation, and amortization of 137 billion rupiah ($8.7 million), a stark contrast to a pro-forma loss of 559 billion rupiah from the previous year. This improvement comes amid fierce competition from Singapore’s Grab Holdings in the ride-hailing and food delivery sectors.
GoTo Group, Indonesia's largest internet firm, is closely monitored by retail investors for its financial performance, which is presented in interactive charts updated quarterly. Recent changes in reporting, particularly due to Tokopedia's deal with TikTok Shop, have affected the ecommerce metrics, which remain unupdated. The figures reported are based on actual earnings rather than pro forma adjustments, reflecting the company's current financial health.
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