Bukalapak Loses IDR 1 Trillion In The First Quarter Of 2023, This Is The Cause

Photo: Doc. Antara

JAKARTA - PT Bukalapak.com Tbk (BUKA) recorded a net loss of IDR 1 trillion in the first quarter of 2023 or a decrease from net profit of IDR 14.59 trillion in the first quarter of 2022. This is in line with the operating loss recorded by Bukalapak of IDR 1.17 trillion in the first quarter of 2023 or decreased on an annual basis. "The decline was mainly due to the first quarter of 2022, the company received substantial profit from investment value profit at PT Allo Bank Tbk," said Corporate Secretary of Bukalapak Teddy Oetomo in an official statement, quoted from Antara, Saturday, April 29. As for Total Processing Value (TPV) Bukalapak during the first quarter of 2023 grew by 19 percent to IDR 40.5 trillion, driven by annual growth from Marketplace and TPV specialty verticals. As many as 72 percent of the company's TPV came from outside the Tier 1 area in Indonesia, where the penetration of all-commerce and digitalization trends of traditional stalls and retail stores continued to show strong growth. TPV Bukalapak partners in the first quarter of 2023 also rose by 9 percent on an annual basis to IDR 18.7 trillion. "The growth of its main partners was supported by product variant expansion, where growth reached 10 percent on an annual basis for TPV physical products and grew by 8 percent for TPV virtual products and financial services," added Teddy. In late March 2023, the number of registered partners reached 16.8 million, an increase from 16.1 million at the end of December 2022. Bukalapak's revenue in the first quarter of 2023 grew by 28 percent on an annual basis to IDR 1 trillion, while Bukalapak's partner revenue in the first quarter of 2023 increased by 9 percent year on year to IDR 515 billion.

"Marketplace menunjukkan pertumbuhan yang kuat dengan peningkatan pendapatan sebesar 77 persen dibandingkan kuartal I 2022 menjadi Rp517 miliar, didorong oleh specialty verticals dengan take rate yang lebih tinggi," katanya.Perseroan terus fokus pada strateginya untuk mencapai pertumbuhan yang kuat dan berkelanjutan, diiringi dengan pengelolaan beban yang baik.Pada periode kuartal I 2023, rasio beban umum dan administrasi yang tidak termasuk kompensasi berbasis saham terhadap TPV membaik menjadi -0,8 persen dibandingkan dengan -1 persen pada periode yang sama tahun lalu.