Flipkart losses widened to over Rs 7,800 Cr in FY22
Ecommerce major's losses widened to over Rs 7,800 crore in the FY22, based on the performance of its B2B unit Flipkart India and B2C ecommerce unit Flipkart Internet, according to regulatory filings.
According to filings, the combined loss of both entities stood at Rs 5,352 crore in FY21.
Flipkart Internet, comprising online business-to-consumer platforms, has reported widening of loss to Rs 4,399 crore in FY22 from Rs 2,907 crore in FY21.
This includes the performance of Fipkart Group firms like Myntra, Instakart etc. The B2B unit, Flipkart India—earlier called Walmart India—reported widening of loss to Rs 3,413 crore in FY22 from Rs 2,445.6 crore in FY21.
The net income of Flipkart, however, increased by close to 20% to about Rs 61,836 crore in 2021-22, with Flipkart India contributing Rs 51,176 core and Flipkart Internet registering a revenue of Rs 10,660 crore.
Combined revenue of the ecommerce 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.
Query sent to Flipkart in this regard did not elicit any reply.
According to market research firm Redseer, it has been leading total sales in India during festive season.
According to the consulting firm report, Flipkart is estimated to have led the first week of festive season sale that was held in the last week of September, with the company cornering 62% or Rs 24,800 crore worth of gross merchandise value from total sales of Rs 40,000 crore.
Edited by Kanishk Singh