GoTo Reveals Plans to Raise Gojek Prices, and This Is Why

Jakarta, CNBC Indonesia - Technology issuer PT GoTo Gojek Tokopedia Tbk. (GOTO) will consider raising the fares for its online transportation service Gojek if fuel prices continue to surge due to the Iran war. This was revealed by CEO Hans Patuwo during last week’s earnings call presentation.

“We will consider passing on some of the cost increases borne by our driver and merchant partners to consumers,” he said during an online press conference on Monday (4/5/2026).

Hans stated that the price increase would apply to premium services, as their customers tend to be more resilient and less sensitive to price hikes.

He added that higher oil prices would also impact the plastics industry, indicating that inflationary effects could be felt across the board and affect consumer purchasing power.

For the reporting period of January-March 2026, GOTO recorded a net profit of Rp171 billion, a turnaround from a loss of Rp367 billion in the same period the previous year.

GOTO also reported adjusted Group EBITDA performance for Q1 2026 at Rp907 billion and on track to meet the full-year adjusted Group EBITDA guidance of Rp3.2 trillion to Rp3.4 trillion.

Net revenue rose 26% year-on-year to Rp5.3 trillion for the quarter. Adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) more than doubled to Rp907 billion, thanks to premium products.

GOTO also offers mobile payments and online loans through Gojek and the Tokopedia online marketplace. It was stated that the number of monthly active users of its fintech services surged 84% year-on-year to 27.5 million in the quarter.

Meanwhile, gross transaction value for on-demand mobility services experienced a slight seasonal slowdown in this quarter of around 3% to Rp5.7 trillion from the same period last year, while the delivery segment grew 8% year-on-year.

Group Chief Operating Officer Sudhanshu Raheja said that “high rainfall” in March, including during the Eid al-Fitr holidays, caused an increase in delivery demand. However, he said that the holidays also meant that Gojek drivers worked shorter hours, leading to business losses.

Patuwo said GoTo would make “three adjustments” to its strategy. These include a stronger emphasis on on-demand service growth, AI transformation, and share buyback strategy.

Singapore-based competitors Grab and Sea have recorded profits in recent years and are each expanding their AI services and online retail businesses.