PT GoTo Gojek Tokopedia Tbk (GOTO) posted double-digit growth in revenues to Rp 3.39 trillion in the first half of this year. Despite increased revenue, GOTO’s loss soared 117.28 percent year-on-year (YoY) to Rp 13.64 trillion. Based on the company’s financial statement, GOTO’s revenue increased 73.32 percent YoY from Rp 1.96 trillion a year earlier.
In detail, income from service fees shot 102.93 percent annually to Rp 7.99 trillion. Rewards skyrocketed 417.77 percent to Rp 1.16 trillion. Delivery services rose 24.33 percent YoY to Rp 907.71 billion. The reward for transactions and payments reached Rp 424.39 billion.
However, higher revenue was eroded by customer promotional costs, which swelled 115.27 percent YoY to Rp 7.34 trillion in January-June 2022. In the same period in 2021, customer promotions reached Rp 3.41 trillion.
If you would like to get a 30-day free unlimited access to all of our insights, please click “Start free trial” button below. If you already have an account, please login.
As a subscriber, you’ll receive daily insights, weekly business digests, and quarterly industrial reports.
In-depth reports on assumption and impact analysis, as well as update and trends mapping, written by our credible and experienced analysts.
Enjoy a 30-day free trial, on us. Feel free to contact us with any additional questions you have.
D-insights is a politics, policy, and key person analysis platform for professionals who want to understand the complex nature of Indonesia’s political-economic environment. This content is brought to you by Katadata and can be accessed via premium subscription packages. More about us »
Get updates via your email