Flipkart narrows loss to Rs 4,248 crore in FY24
E-commerce major Flipkart has reported narrowing of consolidated net loss to Rs 4,248.3 crore in 2023-24 helped by increase in its revenue, according to a regulatory filing report shared by Tofler on Monday.
E-commerce major Flipkart has reported narrowing of consolidated net loss to Rs 4,248.3 crore in 2023-24 helped by increase in its revenue, according to a regulatory filing report shared by Tofler on Monday.
The company posted a consolidated net loss of Rs 4,897 crore in the financial year (FY) 2022-23. The company's expenses on purchase of stock in trade increased by about 24 per cent to Rs 74,271.2 crore in FY 2024 from Rs 59,816.6 crore in FY 2023.
According to the Tofler report, Flipkart's return on equity dropped to the lowest level in the last five years to negative 49.6 per cent. The return on capital employed for the company was also the lowest at negative 54.09 per cent in the last five fiscal years.
The consolidated revenue of the Walmart Group firm increased by about 26 per cent to Rs 70,541.90 crore in FY 2024 from Rs 55,823.9 crore in FY 2023.
An email query sent to Flipkart elicited no immediate reply.
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