Flipkart India's Revenue Grows 12% To INR 34K Cr In FY20; Losses Drop 18%
India, Dec. 2 -- Walmart-owned ecommerce company Flipkart India Pvt Ltd reported a 12% growth in its revenues for the year ended March at INR 34,610 Cr, and at the same time cut its losses by 18% to INR 3,150 Cr.
The unit, however, continued to sell products at a cost below its own purchase price during 2019-20, according to regulatory filings sourced from Tofler.
Flipkart India reported its largest expense of INR 37,636 Cr for purchase of stock, while its operating revenue stood at just INR 34,170 Cr for FY20. The company's next biggest expense was its employee benefit expense that stood at INR 309 Cr.
Flipkart India's majority income is from the wholesale sale of products, unlike Flipkart Internet, the marketplace unit of the ecommer...
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