The robust growth comes even as the Bengaluru e-commerce company’s net losses rose 13% to Rs 4,194 crore, the Tofler data accessed through the Registrar of Companies (RoC) showed.
New Delhi: India’s top e-commerce company Flipkart India Pvt. Ltd saw its revenue jump 26% to Rs 70,844 crore in the fiscal year ending March 2024 compared to a year ago, data sourced from business intelligence platform Tofler showed.
The robust growth comes even as the Bengaluru e-commerce company’s net losses rose 13% to Rs 4,194 crore, the Tofler data accessed through the Registrar of Companies (RoC) showed.
“The company’s total expenses for the fiscal were reported as Rs 75,038 crore,” Tofler said.
Flipkart India Pvt Ltd is the wholesale unit of Flipkart Group. The group also operates Flipkart Internet, the flagship unit that runs the consumer-facing eponymous marketplace that competes directly with Amazon, and JioMart among other digital platforms.
The homegrown marketplace was in 2018 acquired by US-based retail titan Walmart Stores Inc. for $16 billion along with its online fashion retailer Myntra and payment platform PhonePe.
Flipkart just concluded a mega Big Billion Day annual discount event a few weeks ago and it reported robust business during the flagship event.
