New Delhi:
The losses of major e-commerce Flipkart rose to over Rs 7,800 crore in FY 2021-22 based on the performance of its business-to-business unit Flipkart India and B2C e-commerce unit Flipkart Internet, according to the legal registrations.
According to the filings, the combined loss of both entities in fiscal year 2020-21 was Rs 5,352 crore.
Flipkart Internet, made up of online business-to-consumer platforms, has reported an increase in loss to Rs 4,399 crore in FY22 from Rs 2,907 crore in FY21.
This includes the performance of Flipkart Group companies like Myntra, Instakart etc. The B2B unit, Flipkart India – formerly called Walmart India – reported an increase in loss to Rs 3,413 crore in FY22 from Rs 2,445,6 crore in FY21.
However, Flipkart’s net income increased by nearly 20 percent to about Rs 61,836 crore in 2021-22, with Flipkart India contributing Rs 51,176 core and Flipkart Internet recording revenue of Rs 10,660 crore.
The combined revenue of the e-commerce major in 2020-21 was Rs 51,465 crore with Flipkart India and Flipkart Internet contributing Rs 43,349 crore and Rs 8,116 crore respectively.
Inquiries sent to Flipkart in this regard yielded no response.
According to market research firm Redseer, it led overall sales in India during the holiday season.
According to the consultancy’s report, Flipkart is estimated to have led the first week of the festive seasonal sale held in the last week of September, with the company taking 62 percent or Rs 24,800 crore in gross trade value of the total sales of Rs. 40,000 crores.
(Except for the headline, this story has not been edited by DailyExpertNews staff and has been published from a syndicated feed.)
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