Southeast Asia's online car-hailing and takeout specialist Grab saw a sharp increase in profits in the first fiscal quarter, thanks to strong consumer demand, including its financial services business. The Nasdaq-listed company announced on Tuesday that its net profit was $120 million compared to $10 million for the same period last year. For the fiscal quarter ending March, revenue increased 24% to US$955 million; adjusted earnings before interest, taxes, depreciation and amortization increased 46% to US$154 million. Grab maintains its 2026 adjusted earnings forecast before interest, taxes, depreciation, and amortization of between $700 million and $720 million.

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