Walmart impact? Flipkart pares its losses by 63% in FY19

Walmart’s acquisition of Flipkart seems to have worked well for the latter. The Bengaluru-based e-commerce company trimmed its losses by 63 per cent to ₹17,231 crore in FY19.

Flipkart posted ₹42,878 crore in revenue from contracts with customers, with the total revenue adding up to ₹43,615 crore, which marks an approximately 42 per cent increase in group revenue from the previous year’s ₹30,644 crore.

Overall expenses went down significantly, from ₹46,895 crore in FY18 to ₹17,281 crore in FY19, revealed documents sourced by data intelligence platform paper.vc.

However, “the massive decline in expenditure is attributable to a steep decline in finance costs rather than any overall optimisation in operating expenses,” it said.