Flipkart’s Losses Extend To Over Rs. 7,800 Crore in FY22: Details
Flipkart’s biggest E-commerce loss widens to over Rs. 7,800 crore in the financial year 2021-22 based on the performance of its business-to-business unit Flipkart India and B2C e-commerce unit Flipkart Internet, according to an official filing.
According to the filing, the combined loss of both businesses stood at Rs. 5,352 crore in the financial year 2020-21.
Flipkart Internet, which integrates business-to-consumer online platforms, reported a widening loss of Rs. 4,399 crore in FY22 from Rs. 2,907 crore in FY21.
This includes operations of Fipkart Group companies like Myntra, Instakart etc. B2b unit, Flipkart India – formerly known as Walmart India – reported widening loss to Rs. 3,413 crore in FY22 from Rs. 2,445.6 crore in FY21.
Flipkart’s total revenue, however, increased by around 20 percent to around Rs. 61,836 crore in 2021-22 and Flipkart India contributed Rs. 51,176 core and Flipkart Internet registering a revenue of Rs. 10,660 million.
The gross e-commerce revenue 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.
A query sent to Flipkart in this regard went unanswered.
According to market research firm Redseer, it was the top overall seller in India during the festive season.
According to a report by the consulting firm, Flipkart is estimated to have led the first week of sales during the holiday season in the last week of September when the company received 62 percent or Rs. 24,800 crore of sales value from total sales of Rs. 40,000 million.
