Blibli Experiences a Net Loss of IDR 878 Billion in the First Quarter of 2023
Pursue profitability by strengthening business synergy between Blibli, Tiket.com and Ranch Market
PT Global Digital Niaga Tbk (IDX: BUY) or Blibli just released the financial performance results for the first quarter of 2023. Blibli experienced a net loss of IDR 878 billion, but shrank 17,8% from IDR 1,06 trillion in the first quarter of 2022. The company recorded revenue growth of 20,88% to IDR 3,82 trillion from the same period last year of IDR 3,16 trillion.
Total Processing Value (TPV) grew by 78% to IDR 17.915 billion in Q1 2023 from IDR 10.053 billion in Q1 2022. This increase was driven by improved performance in most business segments, especially with the recovery of the online travel business in Indonesia and requests from digital & other product categories. Both had a positive impact on 3P Retail TPV, which grew by 136% in Q1 2023.
The growth of the company's TPV and net income was also supported by organic growth, as seen from the increase in the number transaction users from 1,6 million users to 1,9 million users. The Average Order Value (AOV) also increased by 95% to IDR 1.643.425 in the first quarter of 2023 from the same period last year which was around IDR 842.245.
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