OPEN, GOTO, and BUY Lose in Q1 2023, Who’s Outdated by Many?

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The losses suffered ranged from billions to trillions

Stock illustration. (IDN Times/Aditya Pratama)

Jakarta, IDN Times – The first quarter of 2023 officially ends in March 2023. That way, many companies have recorded their financial performance for the first three months of 2023.

This is no exception for three technology issuers on the Indonesia Stock Exchange (IDX), namely PT Bukalapak.com Tbk (BUKA), PT GoTo Gojek Tokopedia Tbk (GOTO), and PT Global Digital Niaga Tbk (BELI).

So how is the financial performance of the three issuers? Who made the most profit or recorded the biggest loss? Here’s the summary.

Also Read: JCI Flash: GOTO to BBCA Become the Target of Investors This Week

1. PT Bukalapak.com Tbk (OPEN)

Latest Logo Bukalapak. (doc. Bukalapak)

In its report, Bukalapak recorded a net loss of IDR 1.008 trillion in the first three months of 2023. This achievement is a decline, because in the first quarter of 2022, Bukalapak posted a net profit of IDR 14.5 trillion.

President Director of Bukalapak, Teddy Oetomo, also revealed the cause of the company’s net loss.

“Bukalapak posted an operational loss of IDR 1.177 billion in the first quarter of 2023 or decreased year on year, especially because in the first quarter of 2022, the company earned a substantial profit from the profit on investment value at PT Allo Bank Tbk,” said Teddy in Jakarta , Thursday (4/5/2023).

Nevertheless, Bukalapak’s revenue in the first quarter of 2023 grew by 28 percent yoy to IDR 1.006 trillion.

2. PT GoTo Gojek Tokopedia Tbk (GOTO)

Meanwhile, GOTO recorded a net loss of IDR 3.86 trillion in the first quarter of 2023. This figure decreased by 40.3 percent compared to the first quarter of 2022. During that period, GOTO posted a net loss of IDR 6.47 trillion.

Even so, GOTO was able to reap gross income of IDR 5.9 trillion during the first quarter of 2023, an increase of 14 percent compared to the same period the previous year which was only IDR 5.2 trillion.

In addition, GOTO also managed to record a 123 percent increase in net income to IDR 3.3 trillion in the first quarter of 2023 compared to the first quarter of 2022 which was only IDR 1.5 trillion.

Also Read: For an IPO, Hillcon’s share price is priced at Rp. 1,250-Rp. 2,000 per share

#OPEN #GOTO #BUY #Lose #Whos #Outdated
2023-05-14 11:38:00

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