JAKARTA – The profit of PT Blue Bird Tbk (BIRD) soared 163.91% year-on-year (yoy) to IDR 125.85 billion in Q1 2023 from IDR 47.68 billion in Q1 2022. This jump is quite impressive compared to the loss it faced in the same period in 2021.

The data received by IDNFinancials on Thursday (27/4) showed that BIRD managed to collect IDR 1.04 trillion of revenue, shifting 55.42% yoy from IDR 673.98 billion in Q1 2022. The gross and operating profit in Q1 2023 reached IDR 326.34 billion and IDR 144.90 billion, significantly increasing from IDR 173.22 billion and IDR 34.92 billion, respectively, in Q1 2022.

In Q1 2021, this taxi provider recorded revenue of IDR 480.05 billion, plummeting from IDR 885.18 billion in Q1 2020. This massive decline resulted from the implementation of community activities restriction policy (PPKM) as the response to COVID-19 pandemic.

The gross profit in Q1 2021 was only IDR 83.29 billion, shrinking from IDR 206.25 billion in Q1 2020, leading to operating loss of IDR 46.60 billion, massively decreasing from operating profit of IDR 21.47 billion seen in the same period in 2020. Thus, BIRD ended up with IDR 28.32 billion of loss in Q1 2021 from IDR 13.78 billion of profit in Q1 2020. (LK/ZH)