In the fiscal year 2023, Flipkart India, the business-to-business arm of Walmart-owned e-commerce major Flipkart, reported a 9% growth in operating revenue, reaching ₹55,823 crore ($6.70 billion), compared to ₹50,992 crore ($6.11 billion) in the previous year.
However, the company's net loss expanded by 42%, amounting to ₹4,845.7 crore ($581.49 million), as opposed to ₹3,404.3 crore ($408.52 million) in FY22 – driven by an increase in total expenses which jumped to ₹60,858.5 crore ($7.30 billion) from ₹5,458 crore ($655.00 million) in FY22.
This expense increase was attributed to factors such as employee benefits, financing costs, and the purchase of stock. However, the rate of expense growth in FY23 was relatively lower than in FY22 compared to FY21.
Meanwhile, Flipkart Internet, Flipkart's online marketplace which generates revenue from commissions and services for merchants, posted a 33% rise in operating revenue in FY22, reaching ₹10,476 crore ($1.26 billion).
Flipkart India sells goods to retailers and local stores across India through its online marketplace. It is one of the entities owned by U.S. retailer Walmart, alongside other companies like Myntra, Cleartrip, and Walmart India.
Among Flipkart's entities, Flipkart Internet and Flipkart India play critical roles in the e-commerce giant's operations in India.