Flipkart revenue up 25% to Rs 43K cr, Amazon’s 49% up to Rs 16K cr – World Affairs SRS

Flipkart revenue up 25% to Rs 43K cr, Amazon’s 49% up to Rs 16K cr

– World Affairs SRS

Walmart-owned Flipkart reported revenue of Rs 43,357 crore for the financial year 2020-21 (FY21), up 25 per cent over FY15, as the net loss narrowed 23 per cent to Rs 2,445 crore. The e-commerce firm’s total expenses stood at Rs 45,801 crore, according to regulatory documents obtained from business intelligence platform Toffler.
According to the documents, the company forayed into omnichannel business through its business-to-business marketplace.


In another filing, Flipkart Internet Pvt Ltd, which operates as an online shopping website, said it has posted a 28 per cent jump in revenue for FY11 to Rs 8,115 crore. Its net loss jumped 49 per cent to Rs 2,881 crore, according to Toffler. The total expenditure of the company was Rs 10,996 crore.
Revenue was primarily generated from e-commerce, IT-enabled services, marketplace and related support services. Foreign exchange expenditure for FY21 stood at Rs 1,731 crore as compared to Rs 558 crore in FY20.
Rival company Amazon Seller Services Pvt Ltd saw a 49 per cent increase in revenue to Rs 16,379 crore in FY11 as the net loss declined by 19 per cent to Rs 4,748 crore. It spent a total of Rs 21,127 crore.
At Rs 3,143 crore, Amazon Wholesale (India) Pvt Ltd reported a 7 per cent decline in FY 2011 revenue as compared to the previous financial year, while net profit of Rs 43 crore was up 132 per cent over the previous year. The company’s total expenses for FY11 were Rs 3,098 crore.
Flipkart, Amazon, Reliance’s JioMart and Tata-backed BigBasket are engaged in a fierce battle to dominate India’s online retail market. Flipkart, Amazon and other e-commerce firms saw blockbuster festive season sales of around $9.2 billion in 2021, surpassing the $5 billion pre-pandemic sales reported during the festive month in 2019.
According to analysts, the pandemic has accelerated the shift to e-commerce, with an increase in the number of consumers shopping online at a higher frequency than last year.

                                                    </div><div style="background: #fee8dd; padding: 12px; border: dashed 1px black; margin-bottom: 20px;">

Dear reader,

Business Standard has always worked hard to provide updated information and commentary on events that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback to improve our offering has only strengthened our resolve and commitment to these ideals. Even during these difficult times arising out of COVID-19, we are committed to keeping you informed and updated with relevant news, authoritative views and sharp comments on relevant relevant issues.
However, we have a request.

As we grapple with the economic impact of the pandemic, we need your support even more so that we can continue to provide you with more quality content. Our subscription model has received an encouraging response from many of you who have subscribed to our online content. Subscribing to more of our online content can only help us achieve our goals of providing you with better and more relevant content. We believe in independent, unbiased and credible journalism. Your support through more subscriptions can help us practice the journalism we’re committed to.

support quality journalism and Subscribe to Business Standard,

digital editor

,

—-*Disclaimer*—–

this is an unedited and auto-generated supporting article of the syndicated news feed are actualy credit for owners of origin centers. intended only to inform and update you about Sakari naukri , result , UPSC , Exam Jobs etc. for Provides real or authentic news. also Original content may not have been modified or edited by Rojgar samachar team members.

Leave a Reply