Jakarta, CNBC Indonesia – E-commerce issuer PT Bukalapak.com Tbk (BUKA), still posted a net loss attributable to owners of the parent entity of Rp 1.12 trillion in the September 2021 period.
The net loss improved from the same period in the previous year of Rp 1.39 trillion.
Referring to the company’s financial statements for the first nine months, Bukalapak recorded a net income of Rp 1.34 trillion, up 42.09% from the same period in the previous year of Rp 948.43 billion.
In detail, the revenue came from marketplace revenue, which rose to Rp 780.41 billion from the same period last year of Rp 742 billion.
Partners’ income rose to Rp 496.70 billion from the previous Rp 117.47 billion. Meanwhile, BukaPengadaan contributed to the company’s revenue of Rp 70.56 billion, down from Rp 88.95 billion.
In terms of Total Processing Value (TPV) up to September, it grew 45% to Rp 87.9 trillion. This TPV also increased from the third quarter’s position which recorded an increase of 51 percent to Rp 31.2 trillion.
The Company’s TPV growth was supported by an increase in the number of transactions by 25% and a 21% increase in Average Transaction Value (ATV) during the first 9 months of 2020 until September 2021.
As many as 73% of the company’s TPV come from outside Tier 1 areas in Indonesia, where all-commerce penetration and the trend of digitizing warungs and traditional retail stores continue to show strong growth.
Meanwhile, Mitra Bukalapak is the main driver of the company’s growth; where TPV Mitra in September rose 179% to Rp 40 trillion compared to the same period the previous year. Mitra ATV in September 2021 grew by 63% compared to the same period in 2020.
This is supported by the growing variety of products and services offered by Bukalapak to partners. At the end of September 2021, the number of registered Partners reached 10.4 million, an increase from 6.9 million at the end of December 2020.
“The company continues to focus on strategies to achieve strong and sustainable growth, accompanied by good management of operational costs,” said VP of Corporate Secretary, Perdana Arning Saputro, in a statement, Tuesday (30/11/2021).
In the period September 2921, the ratio of operating expenses to TPV decreased to 2.7% compared to 3.9% in the same period in the previous year.
Meanwhile, the company’s operating expenses in the September period increased by 4% compared to the same period in the previous year, due to various new initiatives launched by Bukalapak.
Bukalapak also continues to succeed in reducing losses Earning Before Interest, Taxes, Depreciation, and Amortization (EBITDA). EBITDA loss in September was 15% better than the same period last year.
In addition to improving efficiency, Bukalapak also has strong capital with the company’s cash position of Rp 23.6 trillion at the end of September 2021.
(sys/sys)
– .
