Flipkart loses 51% to Rs 4,362 cr in FY22.
- Flipkart, owned by Walmart, saw its net loss increase 51% to Rs 4,362 crore in FY22, despite a 34% increase in year-over-year revenues to Rs 10,477 crore.
- According to regulatory records accessible through Tofler, the company’s operational deficit, or EBIDTA (earnings before interest, taxes, depreciation, and amortisation) loss, increased to Rs 3,925 crore from Rs 2,267 crore in FY21.
- Increased expenses for transportation, marketing, advertising, and law were a drag on profits.
- Advertising and promotional costs increased by more than 80% in FY22 to Rs 1,946 crore.