JAKARTA - PT Goto Gojek Tokopedia Tbk (GOTO) booked revenue increase and loss decrease at the end of the third quarter of 2023. This e-commerce platform managing company showed improvement from last year, as seen from its revenue surge.

In Financial Report of Q3 2023 quoted today (31/10), Patrick Sugito Walujo, President Director of GOTO, revealed that the revenue rose from IDR 7.96 trillion in Q3 2022 to IDR 10.51 trillion in Q3 2023. Operating loss also shrank massively from IDR 22.75 trillion to IDR 8.77 trillion, thanks to efficiency in its expenses and costs by 37.15% to IDR 19.31 trillion from IDR 30.72 trillion. Thus, its current year’s loss was at IDR 9.59 trillion, down 54.10% year-on-year (yoy) from IDR 20.91 trillion.

GOTO’s revenue in Q3 2023 was supported by increase in service fees, from IDR 4.37 trillion to IDR 6.23 trillion. Its advertising fee, however, slipped from IDR 1.72 trillion to IDR 1.61 trillion. It shipping fees also shifted up from IDR 974.59 billion to IDR 1.49 trillion, as did others from IDR 894.08 billion to IDR 1.16 trillion. Most of the revenue was brought in by third parties, amounting to IDR 10.45 trillion, while related parties only generated IDR 57.16 billion.

In terms of its operation, e-commerce income reached IDR 4.39 trillion, followed by on-demand services of IDR 4.34 trillion, logistics of IDR 1.57 trillion, financial technology of IDR 1.16 trillion, and others of IDR 105.89 billion.

In Q1 2023, GOTO’s revenue was recorded at IDR 3.33 trillion, while its net loss reached IDR 3.86 trillion. Meanwhile, in Q2 2023, the revenue and net loss was seen at IDR 6.88 trillion and IDR 7.16 trillion. (LK/ZH)