PT Global Digital Niaga Tbk—the parent company of Indonesian e-commerce player Blibli, online travel agent Tiket.com, supermarket chain Ranch Market, and home and living experience centre Dekoruma—continued to narrow its net losses in Q3 2024 and posted higher net revenues.
For the three months ended Sept. 30, 2024 (Q3 2024), the company’s loss from operations narrowed by 33% to 586 billion rupiah ($37 million), compared with 876 billion rupiah in the year-ago quarter.
For the first nine months of the year (9M 2024), too, the loss from operations fell 33% to 1.74 trillion rupiah ($110 million), according to its filing to the Indonesia Stock Exchange (IDX).
Net revenues rose 16% YoY to 4.3 trillion rupiah ($270 million) in Q3 2024, and 6% YoY to 12.1 trillion rupiah in 9M 2024.
Blibli’s net loss in Q2 2024 had narrowed by 44% to 489 billion rupiah, from 877 billion rupiah in the same period a year earlier.
