Revenue in 1QFY2022 stood at US$228 million, a 6% growth y-o-y and 87% growth q-o-q as total incentives in the deliveries segment moderated.
Superapp Grab has reported a loss of US$435 million ($601 million) in 1QFY2022 ended March, 35% lower than the loss recorded in the previous corresponding quarter at US$666 million ($902 million).
This was attributed to the elimination of non-cash interest expense of Grab’s convertible redeemable preference shares that converted to ordinary shares in December 2021. This will no longer be incurred going forward, the company said in its results statement.
