The business-to-business (B2B) arm of commerce giant Flipkart, Flipkart India, witnessed an increase in losses to Rs 3,404 crore FY22 from Rs 2,445 crore a year earlier. This comes at a time when its operating revenue rose 19 percent to reach Rs 50,993 crore in FY22.
Witnessing an increase of over 19 percent from Rs 45,794 crore in FY21, Flipkart’s total expenses jumped to Rs 54,580 crore. The Walmart-owned company spent Rs 53,879 crore on purchases of stock-in-trade in FY22. The employee benefits expense stood at Rs 6,274 crore in FY22, up from Rs 3,850 a year earlier.
Walmart-owned online marketplace Flipkart has earlier seen its losses widen by 51 percent in FY22 due to a 36 percent rise in expenses. As a result of growth in marketplace services, logistics management, and advertising services, revenues were up 31 percent.
Led by transportation, advertising and promotion, and legal costs, the total expenses for the company increased by 36.5 percent
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