Global Digital Niaga Tbk (BELI), or Blibli, reported a loss of IDR 1.19 trillion in the first half of 2024.
Said loss actually improved 31.4% year-on-year (yoy) from the same semester last year, in which BELI’s loss was worse at IDR 1.74 trillion.
From the top-line, BELI has indeed shown a slight increase in net revenue of 0.9% yoy to IDR 7.85 trillion in H1 2024. The revenue from online retail business was reported reaching IDR 3.24 trillion, followed from institutions of IDR 2.71 trillion, and physical stores of IDR 2.7 trillion.
According to IDNFinancials data, BELI’s loss in H1 2024 resulted from huge amount of general and administrative expenses, recorded at IDR 1.8 trillion. This brought gross profit down to IDR 1.54 trillion.
Furthermore, its financial expenses in H1 2024 also swelled 66.14% yoy to IDR 99.42 billion, followed by income tax that also skyrocketed 208% yoy to IDR 61.4 billion.
Until June 30, 2024, BELI’s total assets were reported at IDR 15.4 trillion, with cash and cash equivalent of IDR 1.58 trillion, and total equity of IDR 7.71 trillion. (KR/ZH)