Flipkart losses widened to over ₹7,800 crore in FY22

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

According to filings, the combined loss of both entities stood at ₹5,352 crore in the financial year 2020-21. Flipkart Internet, comprising online business-to-consumer platforms, has reported widening of loss to ₹4,399 crore in FY22 from ₹2,907 crore in FY21.

This includes the performance of Flipkart Group firms like Myntra, Instakart etc. The B2b unit, Flipkart India, earlier called Walmart India, reported widening of loss to ₹3,413 crore in FY22 from ₹2,445.6 crore in FY21.

The net income of Flipkart, however, increased by close to 20 per cent to about ₹61,836 crore in 2021-22 with Flipkart India contributing ₹51,176 core and Flipkart Internet registering a revenue of ₹10,660 crore.

Combined revenue of the e-commerce major in 2020-21 was ₹51,465 crore with Flipkart India and Flipkart Internet contributing ₹43,349 crore and ₹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 ₹24,800 crore worth of gross merchandise value from total sales of ₹40,000 crore.