Flipkart narrows loss to ₹3,150.6 crore in FY20 amid COVID-19 pandemic

Flipkart India has narrowed its losses to ₹3,150.6 crore during 2019-20 as compared to the previous financial year, according to regulatory documents. The B2B (business-to-business) arm of Walmart-owned Flipkart had reported a loss of ₹3,836.8 crore for the financial year ended 31 March, 2019, according to regulatory filing.

“During the financial year ended on 31st March 2020, the net total income of company was ₹34,610.1 crore as against the net total income of ₹30,934.9 crore in the previous financial year, witnessing an increase of 11.88 per cent in the net total income,” documents sourced by business intelligence platform, Tofler said, according to reports.

There has been a decrease in the net loss by 17.88%, the document said.