Newsbytes
  • India
  • Business
  • World
  • Politics
  • Sports
  • Technology
  • Entertainment
  • Auto
  • Lifestyle
  • Inspirational
  • Career
  • Bengaluru
  • Delhi
  • Mumbai
  • Videos
  • Visual Stories
  • Reviews
  • Phone Reviews
  • Fitness Bands Reviews
  • Speakers Reviews
  • Find Cricket Statistics
Hindi
More
In the news
Twitter
Gmail
Reserve Bank Of India (RBI)
Reliance
Sensex
New Labour Laws in India
Newsbytes
Hindi
Newsbytes
User Placeholder

Hi,

Logout


India
Business
World
Politics
Sports
Technology
Entertainment
Auto
Lifestyle
Inspirational
Career
Bengaluru
Delhi
Mumbai
Videos
Visual Stories
Reviews
Phone Reviews
Fitness Bands Reviews
Speakers Reviews
Find Cricket Statistics

More Links
  • Videos

Download Android App

Follow us on
  • Facebook
  • Twitter
  • Linkedin
  • Youtube
 
Home / News / Business News / Flipkart's internet arm sees losses double to touch Rs.2,306 crore
Business

Flipkart's internet arm sees losses double to touch Rs.2,306 crore

Flipkart's internet arm sees losses double to touch Rs.2,306 crore
Written by Sneha Johny
Nov 28, 2016, 11:15 pm 2 min read
Flipkart's internet arm sees losses double to touch Rs.2,306 crore

After scripting massive expenditures in an attempt to combat the rising rivalry from Amazon, Flipkart's internet division, Flipkart Marketplace saw its losses double to Rs.2,306 crore for the financial year that ended on 31 March, 2016. This translated to losses of over 110%, according to the company's filings. Despite the losses, the company's sales were up by 153% to touch Rs.1,952 crore.

About
Flipkart Marketplace

Flipkart marketplace is the internet arm of the online e-commerce giant Flipkart. The marketplace model is one where an e-commerce website allows third-party vendors to list their products for sale on the company's website. The shopping portal, with over 35,000 employees, currently generates revenues of around $1.5 billion. Although based in India with its headquarters at Bengaluru, Flipkart is also registered in Singapore.

Money matters
Flipkart's finances in distress

In December last year, Flipkart came under the scanner for its weak performance and poor results. Its profit figures were dipping amidst ballooning expenditures for acquisitions and massive sales. The company's prominent investors such as Qatar Investment Authority, Naspers, Singapore's GIC, DST Global and Tiger Global, flagged Flipkart's dire finances after it resorted to making heavy investments.

Quote
Flipkart's performance slide sees investors play bigger role

"The larger story here is that investors took over the reins of Flipkart almost six to eight months ago. Today, it is Lee Fixel and Kalyan Krishnamurthy who call the shots," reports said after Sachin Bansal stepped down as CEO due to weak performance.

E-tailer battle
The Flipkart-Amazon battle

Internet e-commerce giants, Flipkart and Amazon, after making news with the extravagant offers and sales, are battling it out to clinch the top spot as India's biggest e-tailer. After a spate of senior exits, Flipkart has been grappling with huge competition from Amazon after it announced billions of dollars in investments in India. This resulted in Flipkart spend heavily on expansion and other investments.

Information
What were the numbers for Flipkart Marketplace last year?

During the last financial year, the internet division for the e-commerce platform suffered losses worth Rs.1,096 crore, while its revenues were at Rs.772.5 crore. This year, it gained revenues of Rs.1,952 crore.

Share this timeline
Facebook
Whatsapp
Twitter
Linkedin
Sneha Johny
Sneha Johny
Mail
#EternalOptimist #EagerBeaver
Latest
India
Flipkart
Sachin Bansal
Kalyan Krishnamurthy
Tiger Global
Latest
2022 Wimbledon: Garcia ousts Raducanu; second seed Kontaveit stunned
2022 Wimbledon: Garcia ousts Raducanu; second seed Kontaveit stunned Sports
SC refuses to stay floor test; Uddhav Thackeray resigns
SC refuses to stay floor test; Uddhav Thackeray resigns Politics
Key takeaways from the Ireland versus India T20I series
Key takeaways from the Ireland versus India T20I series Sports
Woman fights to free husband after accusing him of rape
Woman fights to free husband after accusing him of rape India
2022 Wimbledon: Novak Djokovic overcomes Thanasi Kokkinakis
2022 Wimbledon: Novak Djokovic overcomes Thanasi Kokkinakis Sports
India
Bengaluru Airport installs diaper changing room in men's washroom
Bengaluru Airport installs diaper changing room in men's washroom Lifestyle
Who is Mohammed Zubair, journalist arrested for hurting religious sentiments?
Who is Mohammed Zubair, journalist arrested for hurting religious sentiments? India
Sri Lanka under virtual lockdown over fuel scarcity amid crisis
Sri Lanka under virtual lockdown over fuel scarcity amid crisis World
Man left behind by 'baraat' sues groom for Rs. 50L
Man left behind by 'baraat' sues groom for Rs. 50L Lifestyle
Pallonji Mistry, chairman of Shapoorji Pallonji Group, dies at 93
Pallonji Mistry, chairman of Shapoorji Pallonji Group, dies at 93 Business
More News
Flipkart
POCO F4 5G now available in India: Check price, offers
POCO F4 5G now available in India: Check price, offers Technology
Realme TechLife Watch R100 launched at Rs. 3,700: Check features
Realme TechLife Watch R100 launched at Rs. 3,700: Check features Technology
POCO F4 5G will launch in India on June 23
POCO F4 5G will launch in India on June 23 Technology
Samsung Galaxy F13's India availability confirmed: Check expected price
Samsung Galaxy F13's India availability confirmed: Check expected price Technology
Which IITs, IIMs have churned out most Indian unicorn founders?
Which IITs, IIMs have churned out most Indian unicorn founders? Career
More News
Sachin Bansal
Flipkart, founders, nine others slapped with Rs. 10,600-crore ED notice
Flipkart, founders, nine others slapped with Rs. 10,600-crore ED notice Business
Flipkart co-founder Sachin Bansal's wife alleges dowry harassment
Flipkart co-founder Sachin Bansal's wife alleges dowry harassment India
Five famous alumni of IIT Delhi you should know about
Five famous alumni of IIT Delhi you should know about India
Flipkart co-founder Sachin Bansal invests Rs. 650cr in Ola
Flipkart co-founder Sachin Bansal invests Rs. 650cr in Ola Business
Myntra and Jabong CEO Ananth Narayanan resigns; may join Hotstar
Myntra and Jabong CEO Ananth Narayanan resigns; may join Hotstar Business
More News
Kalyan Krishnamurthy
Flipkart buys Walmart India, foraying into online wholesale
Flipkart buys Walmart India, foraying into online wholesale Business
Amid lockdown, Flipkart to resume delivery of essential goods
Amid lockdown, Flipkart to resume delivery of essential goods Business
Worried Flipkart wants six-month delay in implementing new e-commerce rules
Worried Flipkart wants six-month delay in implementing new e-commerce rules Business
To take on Amazon Prime, Flipkart may venture into video-content
To take on Amazon Prime, Flipkart may venture into video-content Business
Ananth Narayanan is happy as Myntra's CEO, won't quit
Ananth Narayanan is happy as Myntra's CEO, won't quit Business
More News
Tiger Global
Zomato raises Rs. 760 crore from Tiger Global: Details here
Zomato raises Rs. 760 crore from Tiger Global: Details here Business
Ed-tech unicorn BYJU's secures $122 million from Russian billionaire's fund
Ed-tech unicorn BYJU's secures $122 million from Russian billionaire's fund Business
Tea cafe chain Chaayos raises $21.5 million funding
Tea cafe chain Chaayos raises $21.5 million funding Business
InterviewBit raises $20 million in a Series A funding round
InterviewBit raises $20 million in a Series A funding round Business
Pay back time: OYO is making its early-stage investors rich
Pay back time: OYO is making its early-stage investors rich Business
More News
Next News Article
Next News Article

Love Business news?

Subscribe to stay updated.

Business Thumbnail
India News Business News World News Politics News Sports News Technology News Entertainment News Auto News Lifestyle News Inspirational News
Career News Bengaluru News Delhi News Mumbai News Mukesh Ambani Indian Premier League (IPL) Karnataka Samsung Xiaomi West Bengal
Bihar Virat Kohli Rohit Sharma Haryana Narendra Modi Arvind Kejriwal Tamil Nadu Gujarat Yogi Adityanath YouTube
Instagram Hollywood News Uttar Pradesh Kerala Netflix Bollywood News Mamata Banerjee Maruti Suzuki Rahul Gandhi Elon Musk
Shah Rukh Khan Chelsea FC OPPO Akhilesh Yadav Indian Cricket Team Apple Manchester United Salman Khan Cryptocurrency OnePlus
Amitabh Bachchan ICC Women's World Cup Vivo India vs Sri Lanka
About Us Privacy Policy Terms & Conditions Contact Us Ethical Conduct Grievance Redressal News News Archive Topics Archive IPL 2022 Schedule IPL 2022 Points Table Find Cricket Statistics
Follow us on
Facebook Twitter Linkedin Youtube
All rights reserved © NewsBytes 2022