Flipkart’s FY19 revenue up 42% to Rs 43,615 crore

BENGALURU: Flipkart Ltd, the Singapore-based parent entity of the Walmart-owned online retailer, has reported consolidated revenue of Rs 43,615 crore for the financial year ended March 31, up 42% from the corresponding period last year.

The growth in revenue has, however, been slower than last year. In the previous financial year, Flipkart Group’s total revenue increased by 50% to Rs 30,644 crore. The group’s losses reduced 63% to Rs17,231 crore in financial year 2019, mainly due to a steep fall in financial and marketplace costs, according to regulatory filings made in Singapore. Losses came down considerably owing to a one-time finance expense incurred last year.