Flipkart India, the B2B arm of Walmart-owned Flipkart, has registered a higher loss of Rs 3,836.8 crore during 2018-19 as compared to the previous financial year, according to regulatory documents.
The unit had posted a loss of Rs 2,063.8 crore for the financial year ended March 31, 2018, documents filed by Flipkart India to the corporate affairs ministry showed.
“…company incurred a net loss of Rs 38,368 million during the financial year under review as against the net loss of Rs 20,638 million in the previous financial year. There has been an increase in the net loss by 85.91 per cent,” the documents sourced by Paper.vc said.
Flipkart India’s revenue from operations, however, saw a 42.82 per cent jump to Rs 30,931 crore in 2018-19 from Rs 21,657.7 crore in the previous financial year, it added.
Flipkart, which is locked in a battle against rival Amazon, has its holding company registered in Singapore.