Bukalapak expects revenue to rise 61% this year, but losses could widen

Mitra Bukalapak. Photo: Liputan6

Indonesian e-commerce major Bukalapak is eyeing revenues of 2.7-3 trillion rupiah (roughly $180-200 million) this year, an increase of up to 61% from 1.87 trillion rupiah recorded last year, according to the company’s presentation to the Indonesia Stock Exchange (IDX).

The targeted revenue is in line with analysts’ forecast of a 58% growth in revenues to 2.96 trillion rupiah over 2021. In the first three months of 2022, the company booked revenues of 788 billion rupiah, or 28% of the whole-year target.

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