Bukalapak Aims Curbing Losses to IDR 1.4T This Year
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29 June 2022 18:15 WIB
TEMPO.CO, Jakarta - Bukalapak.com (IDX: BUKA) is targeting to cut losses down to IDR 1.4 trillion this year. In 2021, Bukalapak recorded a net loss of IDR 1.67 trillion, a 24.6 percent increase from the year before.
BUKA's loss was the result of developing new features with high revenues.
Bukalapak director Teddy Oetomo said in a virtual press conference on Wednesday, June 29, that the new features being developed require funding. He said the company's performance is still on track.
"Looking at the year-to-date progress, if the company manages to get the same amount of monthly EBITDA in June-December with that in May, there is a chance [the loss] could be below Rp1.4 trillion," he said.
Teddy ensured that BUKA has entered the next phase; no longer working to improve performance through efficiency, marketing, subsidies, and others, but "how to continue to grow revenue."
He said that BUKA's revenue increase was seen in Q1/2022, with a total processing value (TPV) growth of 25 percent (yoy). In Q1, the company's revenue grew 86 percent.
MUHAMMAD HENDARTYO
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