Indonesia's Bukalapak records Q1 profit after Allo Bank investment

Indonesia's Bukalapak records Q1 profit after Allo Bank investment

Logo of Bukalapak, an Indonesian e-commerce firm, is seen outside its headquarters in Jakarta, Indonesia, June 16, 2021. REUTERS/Willy Kurniawan

Indonesian e-commerce giant Bukalapak, that made its public market debut last year, has swung to profit, generating a net income of Rp14.55 trillion ($1 billion) in the first three months of 2022, compared to a net loss of Rp324 billion in the same period a year ago.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter