Know how much loss Amazon rival Flipkart generated in FY23

Walmart-owned e-commerce giant Flipkart has witnessed an expansion in its consolidated loss, reaching Rs 4,890.6 crore for the financial year 2022-23.

In comparison, the previous financial year (FY 2022) saw the company incurring a consolidated loss of Rs 3,371.2 crore.

On an individual level, the net loss for Flipkart, which is the amount carried forward to the balance sheet, escalated to Rs 4,839.3 crore.

The company's financial report highlighted, "Net loss for the financial year ending as on 31st March 2023 was Rs 48,393 million as against that of the previous year ending as on 31st March 2022 of Rs 33,624 million." This indicates a 44% surge in the net loss.

Despite the increased loss, Flipkart's consolidated net total income, which includes other sources of income, saw a growth of 9.4%. It rose to Rs 56,012.8 crore in FY 2022-23 from Rs 51,176 crore in FY 2022.

Notably, the standalone net total income mirrored the consolidated figures. Tofler's data also pointed out that the company's total expenses for the said fiscal year amounted to Rs 60,858 crore.