Jakarta - PT Goto Gojek Tokopedia Tbk (GOTO) recorded a widened loss attributable to owners of around 257.26% to Rp6.470 trillion in the first quarter of 2022, from Rp1.811 trillion in the same period last year.

In the financial report published on Tuesday (5/31), the soaring loss was triggered by the higher cost of revenue of around 73.32%, to Rp1,215 trillion from Rp693 billion.

Selling and marketing expenses also swelled by around 666.12%, or from Rp431 billion to Rp3,302 trillion. General and administrative expenses increased by about 270.15%, to Rp2,580 trillion from Rp697 billion.

In addition, net foreign exchange gains shrunk by about two times to Rp92,581 billion from Rp198,185 billion.

Nevertheless, GOTO increased its net income by around 65.59%, to Rp1.497 trillion from Rp904 billion. Financial income also more than doubled to Rp120.104 billion from Rp57.779 billion.

Meanwhile, GOTO's total assets were recorded at Rp151