Flipkart Reported 44% Increased YoY Net Loss For FY23

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.

Flipkart Big Billion Days 2023

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.

Whereas Walmart India Ltd which owns and operates 28 B2B Modern Wholesale Stores including Flipkart under the brand ‘Best Price’, posted the results for FY23. According to Tofler, the company’s revenue for the fiscal year amounted to Rs5,006 crore, a 7 percent decrease compared to the fiscal year 2021-22. Talking about Flipkart’s losses, Walmart India Ltd claimed a net loss of Rs 478 crore, a stark 60 percent annual increase. The total expenses of the e-commerce company were claimed to be Rs5484 crore for the fiscal year 2022-23. More details about the company’s performance in the current fiscal year will be shared on this website. Stay tuned with us.
Amzad Khan
Amzad Khan

Hey there, guys. I am Amzad Khan. I enjoy writing on topics related to my interests in gaming and technology. My work has attracted a dedicated fan base thanks to the fresh and unexpected angle I bring to each piece.