Grab's first-quarter net profit increased due to strong consumer demand.

Southeast Asia's professional ride-hailing and food delivery company Grab saw a significant increase in profits in the first quarter, benefiting from strong consumer demand including its financial services business. The company, which is listed on the Nasdaq, announced on Tuesday that its net profit was $120 million, compared to $10 million in the same period last year. For the quarter ending in March, revenue increased by 24% to $955 million, while adjusted EBITDA increased by 46% to $154 million. Grab maintains its annual adjusted EBITDA forecast for 2026 between $700 million and $720 million.