Walmart owned Flipkart registers robust revenue growth amidst losses
- ByTejika Bajaj | January 6, 2022
The Walmart owned brand Flipkart’s Indian business- Flipkart India as well as Flipkart Internet have registered a massive percentage of revenue growth for the FY21 owing to the surge in the global pandemic and changing consumer behaviour.
As per the regulatory filings of the e-commerce giant, the wholesale unit Flipkart India registered a 25% growth in revenue from operations and the online marketplace arm Flipkart Internet witnessed a 32% growth in revenue from operations in the FY21. While, the giant did witness a surge in revenue growth, the losses also widened by 49% and 25% respectively of Flipkart India and Flipkart Internet.
Flipkart India registered a total operational revenue of INR 42, 938 crore out of which a sizeable portion was contributed by the sale of products. On the other hand, Flipkart India clocked in revenue of over INR 2,794 crore from marketplace and INR 2,445 crore from logistics services.
The latest financials of the company have been released at a time when its Singapore parent is eyeing a potential IPO debut by the calendar year 2022 or FY 2023. Further, the e-commerce platform has plans to scale up its verticals like grocery and hyperlocal deliveries along with its value-focused platform Shopsy.
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