New Delhi: Flipkart Internet, the marketplace arm of Walmart-backed e-commerce company, reported a 32% jump in revenue for the financial year 2020-21, on the back of a Covid-19 related push.
Flipkart Internet generated operating revenue of Rs 7,840 crore during the period, while the wholesale arm of Flipkart – flipkart india – Reported 25% growth in revenue to Rs 42,941 crore.
Flipkart Internet, which generates revenue through verticals such as logistics, marketplace fees and payment gateways, however, reported a net loss of Rs 2,881 crore during the same fiscal year. This is 49% higher than the previous financial year. The company’s total expenses for the financial year were reported to be Rs 10,996 crore, according to data sourced from the business intelligence firm, slippers,
Flipkart India, which has acquired 100% stake in its parent walmartCash and carry operations in 2020 reported a net loss of Rs 2,445 crore during the same financial year. This is 22% less than the previous financial year. The company’s total expenditure for the financial year was reported to be Rs 45,801 crore. Flipkart, which competes with US rival Amazon and Reliance Retail In India, currently doubling down on its grocery business and new ventures like hyperlocal arm Shopsy,
Flipkart Internet generated operating revenue of Rs 7,840 crore during the period, while the wholesale arm of Flipkart – flipkart india – Reported 25% growth in revenue to Rs 42,941 crore.
Flipkart Internet, which generates revenue through verticals such as logistics, marketplace fees and payment gateways, however, reported a net loss of Rs 2,881 crore during the same fiscal year. This is 49% higher than the previous financial year. The company’s total expenses for the financial year were reported to be Rs 10,996 crore, according to data sourced from the business intelligence firm, slippers,
Flipkart India, which has acquired 100% stake in its parent walmartCash and carry operations in 2020 reported a net loss of Rs 2,445 crore during the same financial year. This is 22% less than the previous financial year. The company’s total expenditure for the financial year was reported to be Rs 45,801 crore. Flipkart, which competes with US rival Amazon and Reliance Retail In India, currently doubling down on its grocery business and new ventures like hyperlocal arm Shopsy,
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