Flipkart’s loss widens by 51% on back of 36% rise in expenses
Walmart-owned online marketplace Flipkart has seen its losses widen by 51 percent in FY22 due to a 36 percent rise in expenses. Revenues were up 31 percent led by growth in marketplace services, logistics management and advertising services.
Walmart-owned online marketplace Flipkart has seen its losses widen by 51 percent in FY22 due to a 36 percent rise in expenses.
Revenues were up 31 percent led by growth in marketplace services, logistics management and advertising services.
The total expenses for the company which increased by 36.5 percent were led by transportation, advertising and promotion and legal costs.
These earnings come at a time when the ecommerce industry is also reeling from inflation which has been pushing up the transportation cost.
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