Flipkart India’s revenue rises to Rs 70, 844 crore in FY24: Tofler
28 October 2024, Mumbai
Leading e-commerce company Flipkart India’s revenues increased by 26 per cent to Rs 70, 844 crore in FY24, shows data from business intelligence platform Tofler. However, the company’s net losses also expanded by 13 per cent to Rs 4,194 crore, as per data filed with the Registrar of Companies (RoC).
The company registered total expenses worth Rs 75,038 crore during the year, reflecting its investments in expanding its market presence. The Bengaluru-headquartered company operates a prominent e-commerce marketplace competing with Amazon, Jio Mart, and other digital retail platforms.
Originally a homegrown marketplace, Flipkart was acquired by US retail giant Walmart Inc in in 2018. The $16 billion acquisition deal also included Flipkart’s subsidiaries, the fashion retailer Myntra and payment platform PhonePe.
In its recently concluded Big Billion Days sales event, the company reported impressive business results. The annual discount sale event has become a significant driver of sales and customer engagement for the company.
