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.
