Bukalapak Posts Rp3.6 Trillion Profit Through Q3 2022

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Adi Ahdiat 31/10/2022 12:10 WIB

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From the beginning of the year to the end of the third quarter of 2022, Bukalapak (BUKA) achieved a net profit of Rp3.6 trillion.

Bukalapak's Revenue and Net Profit/Loss, January-September (2021-2022)

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Bukalapak's Revenue and Net Profit/Loss, January-September (2021-2022)

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From the beginning of the year to the end of the third quarter of 2022, PT Bukalapak.com Tbk (BUKA) recorded a net profit of Rp3.6 trillion. This figure is up 421% compared to the same period last year, where Bukalapak recorded a net loss of Rp1.1 trillion.

This increase in net profit was mainly contributed by realized and unrealized investment gains from PT Allo Bank Tbk.

"Although the Company has recorded a net profit in the first nine months of 2022, the Company remains focused on its operational performance. Therefore, the Company's management continues to use Adjusted EBITDA as the Company's performance indicator," said Bukalapak's management in its press release on Monday (31/10/2022).

Bukalapak recorded an Adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) of -Rp327 billion in the third quarter of 2022. The Adjusted EBITDA ratio to Total Processing Value (TPV) is reported to have increased from -1.1% in the third quarter of 2021 to -0.8% in the third quarter of 2022.

During January-September 2022, Bukalapak also recorded net revenue of Rp2.58 trillion, an increase of 92% from the same period last year.

"In the third quarter of 2022, Bukalapak sought to reduce costs and incentives while continuing to drive revenue growth, which is crucial in helping the Company achieve future profitability and proving that the business does not solely rely on spending, promotions, and subsidies to generate growth," said Bukalapak's management.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Bukalapak Posts Rp3.6 Trillion Profit Through Q3 2022

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Bukalapak Posts Rp3.6 Trillion Profit Through Q3 2022

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