(Reuters). -Grab Holdings Ltd., Southeast Asia’s number one ride-hailing and food delivery company. On Thursday, the No. 1 ride-hailing company and food delivery service reported an increase of 6% in its quarterly revenues as customers ordered more food online.

Additionally, the company benefited from increased demand for ride-sharing as more people return to their pre-pandemic lives.

Grab stated that the gross merchandise volume was up 32% to $4.8 Billion in the first quarter, compared with a year ago.

Grab predicted GMV of deliveries for the second quarter at $2.55 billion to $2.65 billion. Grab also forecast GMV in the mobility segment between $0.95 billion to $1 billion. This was to ensure that the worst pandemics were over.

Company expects that supply of cars will stabilize by the end of the year. Driver incentives, as a proportion of GMV, are expected to decrease in this period.

The first quarter’s revenue was $228million, up from $216 million the previous year.

The loss for this period was $435million, down from $666million.