08 November 2022, Mumbai:
Flipkart's losses widened to over Rs 7800 crores in the financial year 2021-2022.
This is based on the performance of its business-to-business unit Flipkart India and B2C e-commerce unit Flipkart Internet. The combined loss of both entities stood at Rs 5352 crores in the financial year 2020-21.
Flipkart Internet, comprising online business-to-consumer platforms, has reported a widening of loss to Rs 4399 crores in the fiscal year 2022 from Rs 2907 crores in the fiscal year 2021. This includes the performance of Flipkart group firms like Myntra, Instakart, etc. The B2B unit, Flipkart India -- earlier called Walmart India -- reported a widening of loss to Rs 3413 crores in the fiscal year 2022 from Rs 2445.6 crores in the fiscal year 2021.
The net income of Flipkart, however, increased by close to 20 percent to about Rs 61,836 crores in 2021-2022 with Flipkart India contributing Rs 51,176 crores and Flipkart Internet registering revenue of Rs 10,660 crores.
The combined revenue of the e-commerce major in 2020-2021 was Rs 51,465 crores with Flipkart India and Flipkart Internet contributing Rs 43,349 crores and Rs 8116 crore respectively.
Flipkart has been leading total sales in India during the festive season. Flipkart is estimated to have led the first week of the festive season sale that was held in the last week of September.
