- Flipkart India, the B2B arm of Flipkart, reported a standalone net loss of INR 4,845.7 crore in FY23, a 42% increase from the previous fiscal year.
- Operating revenue for Flipkart India increased by 9.7% to INR 55,923.9 crore in FY23.
- Total expenses for Flipkart India rose by 11.5% to INR 60,858.5 crore, compared to INR 54,580 crore in FY22.
- Flipkart India sells goods to online sellers who then offer these products on Flipkart’s online marketplace, Flipkart Internet.
- The increase in net loss is attributed to higher expenses and relatively muted income growth for Flipkart India.