India’s major e-commerce company, Flipkart consolidated a net loss of around Rs 3,413 crore, even though there was an increase in the revenues in the financial year of 2021-22
Flipkart reported that it lost Rs 2445.6 crore in the financial year 2020-21. This financial year 2021-2022 has even broadened the loss to a much larger mark of Rs 3404.3 Crore and Rs 2444.8 Crore in the year 2020-21, on a standalone basis.
The total net income of Flipkart increased by 18% from Rs 43,349.1 crore to Rs 51,175.7 Crore on a standalone and consolidated basis in the financial year 2020-21. Tofler said, “The company’s total expenses for the fiscal were reported at Rs 54,580 crore.”
The company obtained a stake in 63 Ideas Infolabs, which manages the Ninjacart brand, and a 50 percent stake in Childrenite Private during the year.
According to its parent enterprise, Walmart’s filings with the US Securities and Exchange Commission (SEC), the eCommerce giant publicized Rs 10,659 crore as revenues in FY22, an increase of 31 percent year-on-year (YoY)
Flipkart spent USD 1.1 billion between February 1 to July 31. This included spending on mergers and investments, capital expenditures, and working capital prerequisites for the e-commerce platform as well as its fashion associate Myntra and payments medium PhonePe.
Flipkart is an Indian e-commerce company, situated in Bengaluru and also a private limited company incorporated in Singapore. It has many popular subsidiaries like Myntra, Phonepe, Ekart, Cleartrip, etc. Flipkart was founded by Indian Entrepreneur Sachin Bansal & co-founded by Benny Bansal. Flipkart is owned by Giant Multinational Retail Corporation Walmart.
American multinational retail chain Walmart owned a 77% stake in Flipkart for $16 billion where at that time the total value of Flipkart was around $20 billion. As of now in 2022 its value is around $37.6 billion.
Flipkart is also planning to go public in the US through a listing in 2023. During sales, it comes neck to neck with Amazon in terms of electronics and mobile phones. It has a variety of products from kitchens, fashion, medicine, and electronics.
Meanwhile, Flipkart’s biggest competitor in India, Amazon India, registered a 32.5 percent growth (YoY) by reporting Rs 21,462 crore in revenue.
Amazon and Flipkart both are India’s biggest e-commerce platforms. Flipkart is a Pan India company while Amazon is a global company that runs in almost every country. Both of the platforms target different audiences and regions especially during festive seasons.
