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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

    Sneha Johny
    Written by
    Sneha Johny
    Mail
    Last updated on Nov 28, 2016, 11:15 pm
    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.

  • In this article
    Flipkart Marketplace Flipkart's finances in distress Flipkart's performance slide sees investors play bigger role The Flipkart-Amazon battle Flipkart's internet arm sees losses double to touch Rs.2,306 crore What were the numbers for Flipkart Marketplace last year?
  • About

    Flipkart Marketplace

    Flipkart Marketplace
    Credits:
  • 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

    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

    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.

  • 28 Nov 2016

    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
  • 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.

  • 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.

  • India
  • Flipkart
  • Sachin Bansal
  • Kalyan Krishnamurthy
  • Qatar Investment Authority
  •  
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