The net profit for the 2022 financial year, announced by the Indonesian online marketplace Bukalapak on Tuesday, was mostly driven by investment gains and finance income, rather than revenues from operations.
The IDX-listed company booked a net profit of 1.97 trillion rupiah ($130 million) last year, compared with a net loss of 1.67 trillion rupiah in 2021. This was on account of a strong Q1 when Bukalapak booked a profit of 14.55 trillion rupiah (almost $1 billion), following gains from its investment in PT Allo Bank Tbk.