Flipkart India revenue up 12% in FY20 even as losses drop 18%; expenses see marginal rise

Walmart-owned Flipkart’s wholesale arm Flipkart India Private Limited has reported a 12 per cent increase in its FY20 revenues to Rs 34,610 crore from Rs 30,931 crore in the last financial year. Its losses, however, decreased 18 per cent to Rs 3,150 crore in FY20 from Rs 3,835 crore in FY19. On the other hand, expenses saw a marginal increase of 8.6 per cent to Rs 37,760 crore from Rs 34,766 crore during the said period, according to the company financials accessed by business intelligence platform Tofler. Engaged in the business of wholesale distribution of mobile, television, laptop, tablet, mobile accessory, footwear, clothing, etc., on business-to-business basis had ‘Purchases of Stock or goods in Trade’ worth Rs 37,636 crore in FY20 up from Rs 34,396 crore under expenses in the preceding financial year.