The trend of reporting net loss has been continued by e-commerce giant Flipkart. Reportedly, the e-commerce giant company reported a consolidated loss of Rs4 4890.6 crore in the fiscal year 2022-23 which is approximately 44 percent higher (YoY). Flipkart, the Walmart-owned e-commerce company reported a net loss to the balance sheet on a standalone basis to Rs 4839.3 crore. As the net loss of Flipkart was reported significantly higher than the FY22, investors have become worried. If that’s the case and you also scrounging the web articles regarding the same, the following sections are waiting for you. Continue reading this article for more details. Swipe down the page.
The net loss for the FY23 Flipkart reported Rs4848 crore against the FY22 when the e-commerce company reported a net loss of Rs3,404 crore. In FY23, the net loss was 44 percent higher than the previous fiscal year. Talking about the total operational revenue of Flipkart for the year FY 23 and FY 22, the company posted a net total consolidated income of Rs56,012.8 crore in FY23 which was 9.4 percent higher than Rs51,176 crore which was posted in FY22. Shift to the following section and read more details of Flipkart’s financial report for FY 2023.
The standalone net total income of the company was the same as the consolidated income. The total expenses of Flipkart for FY23 were Rs60,858 crore. The market experts have sent emails and messages for their queries but the company has not responded to the queries. The financial report shared by Flipkart for the fiscal year 2022-23 reads, “Net loss for the financial year ending as on March 31, 2023, was Rs48,393 million as against that of previous year ending as on March 31, 2022, of Rs33,624 million witnessed an increase of 44 percent in the net loss,” Shift to the next section and read more details.