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.

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