Indonesia's GoTo posts narrower nine-month net loss of $599m

Superapp and ride-sharing company says it continues on 'path to profitability'

A Gojek driver in Indonesia. Its parent company, superapp and e-commerce provider GoTo, has struggled to turn a profit. © AP

NANA SHIBATA, Nikkei staff writer

October 30, 2023 19:33 JST

Updated on October 30, 2023 22:08 JST

JAKARTA -- Indonesian superapp and e-commerce operator GoTo said on Monday it recorded a net loss of 9.5 trillion rupiah ($599 million) for the first nine months of this year, a significant improvement from same period in 2022.

GoTo, which went public in April last year, posted a net loss of 20.3 trillion rupiah in the first nine months of 2022. Revenue for the first three quarters this year increased 32% annually to 10.5 trillion rupiah.