Flipkart Internet’s operating revenue zoomed 42% to INR 14,845.8 Cr in FY23 from INR 10,477.4 Cr in the previous fiscal year
The B2C arm’s net loss declined 9% to INR 4,026.5 Cr in FY23 from INR 4,419.5 Cr in FY22
Total expenditure rose to INR 19,043 Cr in FY23, with ESOP costs accounting for INR 2,155 Cr
Flipkart Internet Private Limited, the B2C arm of Walmart-owned Flipkart, saw its operating revenue near the INR 15,000 Cr mark in the year ended March 31, 2023. The marketplace arm’s operating revenue zoomed 42% to INR 14,845.8 Cr in the financial year 2022-23 (FY23) from INR 10,477.4 Cr in FY22.
Flipkart Internet primarily earns revenue through commission charges and other services it offers to merchants, including advertising of products. Including other income, the B2C arm’s total revenue rose 41% to INR 15,044 Cr during the year under review from INR 10,640.5 Cr in FY22. The company also managed to reduce its cash burn, which helped it reduce its net loss by 9% to INR 4,026.5 Cr during the year under review from INR 4,419.5 Cr in FY22.