Flipkart narrows loss to Rs 3,150.6 crore in FY20

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.
“During the monetary yr ended on 31st March 2020, the web complete revenue of firm was Rs 34,610.1 crore as towards the web complete revenue of Rs 30,934.9 crore within the earlier monetary yr, witnessing a rise of 11.88 per cent within the internet complete revenue,” paperwork sourced by enterprise intelligence platform, Tofler mentioned.
There has been a lower within the internet 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 cellular, tv, laptop computer, pill, cellular accent, footwear, clothes, and many others, on B2B (business-to-business) foundation.
Emails despatched to Flipkart looking for feedback didn’t elicit a response.

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