Grab reports rise in revenue on strong demand for food delivery

19/5/2022 2:42:00 PM

Tech: Grab reports rise in revenue on strong demand for food delivery - Reuters

Tech: Grab reports rise in revenue on strong demand for food delivery - Reuters

BENGALURU (May 19): Grab Holdings Ltd, Southeast Asia's No 1 ride-hailing and food-delivery firm, on Thursday reported a 6% rise in quarterly revenue as more people ordered food online.The company also benefited from growing demand for ride-sharing as people resumed their pre-pandemic routines.Grab said gross merchandise volume (GMV), a measure of transaction volume, rose 32% in the first quarter to US$4.8 billion from a year earlier.For the second quarter, Grab forecast GMV for deliveries between US$2.55 billion and US$2.65

BENGALURU (May 19): Grab Holdings Ltd, Southeast Asia's No 1 ride-hailing and food-delivery firm, on Thursday reported a 6% rise in quarterly revenue as more people ordered food online.× Copy URL A FOOD delivery rider pleaded guilty in the Johor Baru Sessions Court today to two counts of improper use of the network service by sending obscene images and video using the Instagram app two years ago.Pix for representational purpose only.Telegram channel for the latest updates.

The company also benefited from growing demand for ride-sharing as people resumed their pre-pandemic routines.Grab said gross merchandise volume (GMV), a measure of transaction volume, rose 32% in the first quarter to US$4.Effective July 2018, access to full reports will only be available with a subscription.8 billion from a year earlier.This is despite a May 14 statement from the domestic trade and consumer affairs ministry that India’s wheat export ban would not affect the commodity’s supply in Malaysia, as it imports 80% of its wheat from Australia and the balance from the US, Canada and Ukraine.For the second quarter, Grab forecast GMV for deliveries between US$2.55 billion and US$2.“The government does not care even though many suppliers and consumers complain that they cannot get enough supply of chicken,” the source said.

65 billion, and for the mobility segment to be between US$0.70 a piece.95 billion and US$1 billion, betting the worst of the pandemic was over.The company expects supply of cars on the road to stabilise in the second half of the year, and that driver incentives as a percentage of GMV to taper in that period.Revenue for the first quarter was US$228 million, compared with US$216 million a year earlier.“If this is not controlled, I am afraid there will be a slight increase in the price of wheat-based products by Presma’s 9,000 members,” he said.Loss for the period narrowed to US$435 million from US$666 million.“KPDNHEP needs to solve this problem but they just want to be the ‘champion’ to keep the price cheap without solving the main problem of the farmers.

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no wonder premarket UP. And raised delivery fee

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