Business

Flipkart narrows loss to Rs 3,150.6 crore in FY20

Summary

NEW DELHI: Flipkart India, the B2B arm of Walmart-owned Flipkart, has narrowed its losses to Rs 3,150.6 crore throughout 2019-20 as in comparison with the earlier monetary yr, in accordance with regulatory paperwork. The unit had posted a lack of […]

NEW DELHI: Flipkart India, the B2B arm of Walmart-owned Flipkart, has narrowed its losses to Rs 3,150.6 crore throughout 2019-20 as in comparison with the earlier monetary yr, in accordance with regulatory paperwork.
The unit had posted a lack of Rs 3,836.eight crore for the monetary yr ended March 31, 2019, paperwork filed with the company affairs ministry confirmed.
“Through the monetary yr ended on 31st March 2020, the web whole revenue of firm was Rs 34,610.1 crore as towards the web whole revenue of Rs 30,934.9 crore within the earlier monetary yr, witnessing a rise of 11.88 per cent within the web whole revenue,” paperwork sourced by enterprise intelligence platform, Tofler mentioned.
There was a lower within the web loss by 17.88 per cent, the doc mentioned.
Flipkart, which is locked in a battle towards rival Amazon, has its holding firm registered in Singapore.
Flipkart India is engaged in enterprise of wholesale distribution of cell, tv, laptop computer, pill, cell accent, footwear, clothes, and so forth, on B2B (business-to-business) foundation.
Emails despatched to Flipkart searching for feedback didn’t elicit a response.

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