Flipkart loss widens to Rs 4,890.6 crore in FY 2022-23

E-commerce major Flipkart India Private Limited has reported a widening of consolidated loss to Rs 4,890.6 crore in the financial year 2022-23, according to financial data provided by business intelligence platform Tofler.

The Walmart group e-commerce firm posted a consolidated loss of Rs 3,371.2 crore in the financial year (FY) 2022.

On a standalone basis, Flipkart's net loss or loss carried to the balance sheet widened to Rs 4,839.3 crore.

"Net loss for the financial year ending as on 31st March 2023 was Rs 48,393 million as against that of previous year ending as on 31st March 2022 of Rs 33,624 million witnessed an increase of 44 per cent in the net loss," Flipkart's financial report said.

During the reported fiscal, the company's consolidated net total income, including income from other sources, increased by 9.4 per cent to Rs 56,012.8 crore from Rs 51,176 crore in FY 2022.

Its standalone net total income was the same as the consolidated numbers.

"The company's total expenses for the fiscal were reported as Rs 60,858 crore," Tofler said.

An e-mail query sent to Flipkart elicited no immediate reply.