Flipkart’s loss in FY22 increases by 46% to more than Rs 7,800 cr

Flipkart's loss for the fiscal year 2021–22 increased by almost 46% to more than Rs 7,800 crore.

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Flipkart
Flipkart

New Delhi: Flipkart’s loss for the fiscal year 2021–22 increased by almost 46% to more than Rs 7,800 crore. According to regulatory filings, this loss amount reflects the combined performance of its business-to-business unit Flipkart India and B2C e-commerce unit Flipkart Internet.

In the fiscal year 2020–21, both businesses collectively lost Rs 5,352 crore.

The loss reported by Flipkart Internet, which includes business-to-consumer platforms online, increased to Rs 4,399 crore in FY22 from Rs 2,907 crore in FY21.

This also pertains to the operation of Fipkart Group companies like Myntra, Instacart, etc. The B2B division, Flipkart India (formerly known as Walmart India), posted a wider loss in FY22, rising to Rs 3,413 crore from Rs 2,445.6 crore in FY21.

However, Flipkart’s net income climbed by about 20% to around Rs 61,836 crore in 2021–2022 with contributions from Flipkart India of Rs 51,176 core and Flipkart Internet of Rs 10,660 crore.

The largest e-commerce company generated Rs 51,465 crore in combined income in 2020–21, with contributions from Flipkart India and Flipkart Internet of Rs 43,349 crore and Rs 8,116 crore, respectively.

Redseer, a market research company, reports that it has led all sales in India over the holiday season.

According to a report from a consulting firm, Flipkart is thought to have taken the lead during the first week of the holiday shopping season, which was held in the last week of September. The company is said to have seized 62% of the total gross merchandise value from sales of Rs 40,000 crore, or Rs 24,800 crore.