Flipkart losses are increased by 750% in India: You all should know that Indian E-commerce company Flipkart has announced that they have been in losing for this Year again. As you all may know that the company was in lose a previous year and the year before it. As per the financial year 2017-18 report the company has swelling with losses even as their consolidated revenues shot up by 39%. Also, the reports are suggesting that the competition between the revival company Amazon and Flipkart has increased in the past few months.
Flipkart Internet announces a 30% fall in losses for FY18 at Rs. 1,100 crore
Also, the reports are coming that the ‘Flipkart India Private Limited” has shared the revenue reports for the financial year 2017-18 as Rs. 21,600 crores, a 40%. Some reports are suggesting that the company further reported a net loss of Rs. 2,000 crores during the fiscal year. Some sources are indicating that the loses are increased by 750% increase from the last financial year. Also, the reports are coming that the company’s total expenses were around Rs. 23,700 crores.
Some reports are indicating that the Flipkart India reported a 40% jump in revenues at Rs. 21,600 crores but saw its losses rise eight times at Rs. 2,000 crores. As you can see that the revenues are increased but the loses are increased too. Some sources are saying that the raised competition with the subject might disturb the company for now. We are expecting that Flipkart will recover these all issues.
You all shouldn’t forget that Flipkart Internet, the entity which runs the e-tailer’s marketplace announced a 30% fall in losses for FY18 at Rs 1,100 crore, its revenues surged by 35% to Rs. 3,000 crore. Overall, you all may know that the Flipkart isn’t alone in the game as they have got “Walmart” on their side. The competition in the Indian e-commerce sector will continue to escalate as both Amazon and Flipkart are now the American backed companies.