Grab reports rise in revenue on strong demand for food delivery

　　div classBodysc17zpet90 cdBBJodivpReuters Grab Holdings Ltd, Southeast Asias No. 1 ridehailing and food delivery firm, on Thursday reported a 6 rise in quarterly revenue as more people ordered food online. p

　　pThe company also benefited from growing demand for rideshare as people resume their prepandemic routines. pdivdivdiv classBodysc17zpet90 cdBBJodiv

　　pGrab said gross merchandise volume GMV, a measure of transaction volume, rose 32 in the first quarter to 4.8 billion from a year earlier. p

　　pFor the second quarter, Grab forecast GMV for deliveries between 2.55 billion and 2.65 billion, and for the mobility segment to be between 0.95 billion and 1 billion, betting the worst of the pandemic was over. p

　　pThe company expects supply of cars on the road to stabilize in the second half of the year, and that driver incentives as a percentage of GMV to taper in that period. p

　　pRevenue for the first quarter was 228 million, compared with 216 million a year earlier.p

　　pLoss for the period narrowed to 435 million from 666 million.p

　　p Reporting by Nivedita Balu in Bengalurup

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