Flipkart incurred a loss of over Rs 7,800 crore despite rising sales

Flipkart, one of the big e-commerce companies, has incurred a loss of more than Rs 7,800 crore in the financial year 2021-22. This loss is related to its business-to-business unit Flipkart India and B2C e-commerce unit Flipkart Internet. In the previous financial year, the total loss of these two units was around Rs 5,352 crore.

According to the company’s regulatory filing, the loss of Flipkart Internet, which holds online business-to-consumer platforms, widened to Rs 4,399 crore. It was Rs 2,907 crore in the previous financial year. This includes the performance of Flipkart Group firms Myntra and Instakart. The loss of business-to-business unit Flipkart India (formerly Walmart India) has also increased. It posted a loss of Rs 3,413 crore, compared to Rs 2,445.6 crore in the previous financial year. However, Flipkart’s net income grew by nearly 20 per cent to Rs 61,836 crore in the last financial year. In this, the contribution of Flipkart India is Rs 51,176 crore and that of Flipkart Internet is about Rs 10,660 crore.

The combined revenue of Flipkart stood at Rs 51,465 crore in the financial year 2020-21. In this, the stake of Flipkart India and Flipkart Internet was Rs 43,349 crore and Rs 8,116 crore respectively. A query sent to the company in this regard did not elicit any response. Market research firm Redseer told that during the festive season in the country, total sales I have been a company.

Out of the total sales of around Rs 40,000 crore in the first week of the festive sale in September, Flipkart achieved a gross merchandise value of around Rs 24,800 crore. The company has started charging customers a handling fee on cash on delivery orders of products. A fee of Rs 5 is visible on the Flipkart website and app when the user selects the cash on delivery (COD) option. Currently, Flipkart charges shipping cost for products in specific price ranges. If the order value of the Flipkart Plus marked product is less than Rs 500, a delivery fee of Rs 40 has to be paid. However, the actual cost depends on the seller. Shipping cost is waived for order value above Rs.500. Flipkart’s website states that Rs 5 off on all COD orders. fees will be collected and will not include delivery fees.

(This news has not been edited by NDTV team. It is published directly from syndicate feed.)

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