Flipkart posts Rs 3,413 crore net loss in FY22

2 Nov 2022 , 01:38 PM

Flipkart India’s net loss grew to Rs 3,413 crore in the fiscal year 2021—22, according to financial information seen by business intelligence platform Tofler.

A net loss of Rs2,445.6 crore was declared by the Walmart group-owned company in the prior fiscal year 2020—21. Flipkart’s net loss increased to Rs3,404.3 crore in 2021—2022 from Rs2,444.8 crore the previous year on a standalone basis. Between FY21 and FY22, standalone and consolidated net total income increased by roughly 18%, from Rs 43,349.1 crore to Rs 51,175.7 crore.

According to Tofler, the company’s total expenditures for the fiscal were reported at Rs54,580 crore. During the year, the company purchased an interest in 63Ideas Infolabs, which runs the Ninjacart brand, and a 50% investment in Childrenite Private. Flipkart did not respond to a question made to them by email right away.

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