JAKARTA – PT Blue Bird Tbk (BIRD), the operator of Bluebird taxis, reported a net profit of IDR 155.5 billion at the end of the first quarter of 2026, down 6% year on year, despite revenue growth of 11.6%.

Based on the company’s latest financial statement, revenue reached IDR 1.45 trillion, supported by taxi services, which grew 12% to IDR 1 trillion.

Meanwhile, revenue from non-taxi services also rose 10.6% to IDR 431.7 billion.

This strengthened cash flow from operating activities, which surged 73.2% to IDR 260.8 billion by the end of March 2026, mainly driven by cash receipts from drivers.

“During the 2026 Eid period, Bluebird recorded stronger performance compared with the previous year, reflecting robust public demand during the homecoming season and extended holidays,” Blue Bird management said in a statement received by IDNFinancials on Monday (4/5).

Services through the MyBluebird digital platform also continued to grow. The number of users increased by 22.4%, while usage of the fixed price feature rose 29.2% year on year in the first quarter of 2026.

Throughout January–March 2026, Blue Bird spent around IDR 21.8 billion on technology development, or approximately 7.5% of operating expenses.

Despite higher revenue, the financial report shows that direct costs rose 15.1%, while operating expenses increased 13.3%.

This weighed on the company’s net profit, reducing the net profit margin from 12.7% to 10.7%.

On the other hand, Blue Bird’s total assets increased from the end of 2025 to IDR 9.88 trillion, with liabilities of IDR 3.4 trillion and cash and cash equivalents of IDR 1.4 trillion.

For 2026, management remains optimistic about continued growth, supported by a solid business structure.

“Throughout 2026, our focus is to sustain growth momentum by strengthening service reliability through fleet readiness, expanding customer access, and improving operational productivity,” said Blue Bird President Director Adrianto Djokosoetono. (ZH)