Flipkart: Flipkart’s B2C arm, FirstCry post steep losses in FY23, revenues expand
NEW DELHI: India’s new age tech companies continue to remain deep in the red. Walmart owned e-commerce major Flipkart posted net losses of over Rs 4,000 crore in FY23. Data sourced from market intelligence platform Tofler showed that Flipkart Internet which runs the Flipkart e-commerce marketplace reported losses of Rs 4,026 crore on a consolidated basis in FY23.Flipkart’s B2B arm had earlier reported losses of Rs 4,897 crore. Omni-channel retailer FirstCry which is preparing to list on the bourses next year also reported steep losses in FY23 which shot up to Rs 486 crore during the year compared to losses of Rs 78 crore posted in FY22, the firm’s RoC filings showed. Flipkart which together with Amazon corners the bulk of India’s e-commerce market reported only a marginal drop in year-on-...
