Flipkart’s Losses Widen To Over Rs 7,800 Crore In FY22, Net Income Jumps By 20 Per Cent

Flipkart's Losses Widen To Over Rs 7,800 Crore In FY22, Net Income Jumps By 20 Per Cent

E-commerce major Flipkart’s losses widened to over Rs 7,800 crore in the financial year 2021-22 (FY22) based on performance of its business-to-business unit Flipkart India and B2C e-commerce unit Flipkart Internet, according to regulatory filings.

The combined loss of both entities stood at Rs 5,352 crore in FY21, the filings said.

Flipkart Internet, comprising online business-to-consumer platforms, has clocked 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 such as 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 per cent to about Rs 61,836 crore in 2021-22 with Flipkart India contributing Rs 51,176 core and Flipkart Internet clocking a revenue of Rs 10,660 crore.

Combined revenue of the e-commerce 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 per cent or Rs 24,800 crore worth of gross merchandise value from total sales of Rs 40,000 crorev   Meanwhile, Walmart is planning to raise $2-3 billion for its subsidiary Flipkart at a valuation of more than $40 billion to expand business in India, according to a news report.

“Walmart may prefer to bring strategic investors into Walmart-Flipkart through this fundraising, unlike in the last round. However, Walmart-Flipkart is also open to selling to large pure-play investment firms,” a sources said. Flipkart raised about $3.6 billion in July last year of which $700-800 million of this capital remains.

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