Filpkart Internet trims loss by 9%, revenues up 42% in FY23

Flipkart Internet, the marketplace arm of Walmart-owned e-commerce giant Flipkart, posted a 50% growth in its logistics segment — the largest by revenue, helping the company boost its topline and cut losses by 9% during financial year 2022-23.

The arm posted a loss of Rupees 4,027 crore in FY23, slightly lower than Rupees 4,420 crore it had posted in the preceding year, showed its RoC filing sourced through Private Circle.

Even as expenses jumped 26%, a broad-based growth across its segment aided revenue growth, which rose 42% year-on-year to Rupees 14,846 crore. To bolster its last-mile logistics and doorstep delivery, Flipkart had picked up a minority stake in logistics startup Shadowfax in 2019 for $60 million. Over the years, the company has invested heavily to improve its supply chain management.