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Grab narrows loss by 35% to US$435 million in 1QFY2022

Khairani Afifi Noordin
Khairani Afifi Noordin5/19/2022 09:05 PM GMT+08  • 2 min read
Grab narrows loss by 35% to US$435 million in 1QFY2022
Revenue in 1QFY2022 stood at US$228 million, a 6% growth y-o-y and 87% growth q-o-q. Photo: Grab
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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.

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.

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