JAKARTA (Oct 30): Indonesia's PT GoTo Gojek Tokopedia GOTO.JK reported on Wednesday its first quarterly underlying profit this year at 137 billion rupiah (US$8.73 million or RM38.3 million) in the third quarter, owing to a better performance of its financial segment.

GoTo, Indonesia's biggest tech company, maintained its full-year target to break even this year in terms of its core earnings, or Ebitda, following the record high adjusted Ebitda positive, it said in a statement.

GoTo went public in 2022 and offers ride hailing, food deliveries, logistics and financial services.

GoTo sold majority shares of its e-commerce platform Tokopedia to TikTok, the platform owned by China's ByteDance, and completed the deal earlier this year.

"We're pleased to report another quarter of strong performance across GoTo, with all cylinders firing as our business accelerates," GoTo chief executive officer Patrick Walujo said in the statement.

Its chief financial officer Simon Ho said the firm's business was progressing swiftly, especially on financial technology.

Third-quarter gross revenues in the financial segment increased 128% year on year to one trillion rupiah, driven primarily by greater lending as well as an increased transaction volume within the GoPay app, it said.

Uploaded by Magessan Varatharaja