Walmart’s Flipkart posts 32% jump in FY20 marketplace revenues amid widening losses, expenses

Flipkart Internet — the marketplace arm of Walmart-owned e-commerce company Flipkart – has reported a 32 per cent jump in revenues along with a 19 per cent increase in its net losses as well for FY20 from FY19. Amazon’s rival posted Rs 6,317.7 crore in revenues in FY20 up from Rs 4,803.9 crore in FY19. The losses for the marketplace stood at Rs 1,936.6 crore vis-à-vis Rs 1,624.4 crore during the said period, according to the regulatory filings sourced from business intelligence platform Tofler. The company’s total expenses also increased 28 per cent for FY20 to Rs 8,254 crore from Rs 6,428 crore in FY19.

However, the growth rate in revenue for FY19-20 has declined as the jump in FY18-19 revenue was 57 per cent. Flipkart Internet’s FY18 revenue was Rs 3060.2 crore. Nonetheless, the growth rate in losses contracted. Rs 1,159.4 crore FY18 losses had ballooned by 40 per cent in FY19 vis-vis 19 per cent in FY19-20. Similarly, the growth rate in expenses also shrunk from 57 per cent in FY18-19. Flipkart’s arch-rival Amazon’s marketplace arm — Amazon Seller Services had reduced losses 9.5 per cent to Rs 5,685 crore for FY19 from Rs 6,287.9 crore in FY18. Its revenues, however, grew 55 per cent to Rs 7,778 crore in FY19.