Flipkart Internet’s Revenue Increased by 48.2 Percent

- Advertisement -
- Advertisement -

The company has been successfully able to narrow down its loss figures by around Rs 520 crores in the financial year that ended in March 2018

E-commerce giant Flipkart Internet’s revenue increased by 48.2 percent in the 2017-2018 in comparison to the 2016-2017 period. Flipkart Internet’s revenue from operations stood at Rs 2,790 crore during 2017- 2018 period, representing a jump of around Rs 908 crore in comparison to Rs 1,882 revenue, it had reported in the previous fiscal year. The revenue figures are sourced from the documents filed with the Corporate Affairs Ministry of India.

- Advertisement -

Amazon India is the biggest e-commerce portal competing against home-grown Flipkart Internet in the country.

Narrowed losses

The company has been successfully able to narrow down its loss figures by around Rs 520 crores in the financial year that ended in March 2018.

Flipkart had reported a consolidated loss of Rs 1,160 in the previous fiscal year, which is approximately Rs 520 crores more than what it had filed for the fiscal year that ended in March 2018.

Walmart Factor

Earlier this year, Bangalore based Flipkart had signed a ground-breaking deal with America based Walmart. The American retailer, Walmart, as per the deal has picked up about 77 per cent stake in Flipkart for a mammoth amount of about $ 16 billion.

The deal not only gave handsome returns to Flipkart’s investors like SoftBank but had also left its founders rich by crores.

Flipkart has been aggressively pumping in money for marketing and advertising to woo consumers after its deal with the Walmart. Walmart’s market strategy in US is not merely limited to an online e-commerce portal as it also owns and operates around 6,363 stores there.

Walmart is counted as a leading Amazon competitor in US.

- Advertisement -

Related Artcles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Exclusive

Indian PC Market Grows 4% In Q4 2023, Local Manufacturing Efforts Ramp Up

0
IT procurement by enterprises and SMBs, delayed in the first half of 2023, is starting to take place and is expected to accelerate...

“Efficiency In Solar Energy Is More About Investment Rationale Than Resource Limitation”

0
Indian utility-scale solar company SolarArise claims to offer investors long-term, cash-generating assets and anticipates advancements in energy storage technologies to enable 24-hour clean power...

A New Form Factor Of Two Wheelers Takes Shape In India

0
The logistics sector has become India's biggest adopter of electric vehicles. However, attrition due to physical and mental fatigue is alarming for lease and...

Buzz

Blackwell architecture, NVIDIA

What did NVIDIA Announce in its Annual Conference?

0
At its annual developers conference, NVIDIA made a load of new announcements. From unveiling its Blackwell chips to flagging off project GR00T and major...

TPEM And HPCL Team Up To Enhance EV Charging Infrastructure

0
The collaboration seeks to enhance the experience of electric vehicle owners in India and promote greater adoption of electric vehicles among the population. Tata Passenger...

Suzuki Makes Investment In IoT Expert Soracom

0
Key areas of interest include globally-marketed electric vehicles, modular 'mobility base units', and innovative technologies and services to achieve carbon neutrality. Just a month after...

Important Sectors

TPEM And HPCL Team Up To Enhance EV Charging Infrastructure

0
The collaboration seeks to enhance the experience of electric vehicle owners in India and promote greater adoption of electric vehicles among the population. Tata Passenger...

Suzuki Makes Investment In IoT Expert Soracom

0
Key areas of interest include globally-marketed electric vehicles, modular 'mobility base units', and innovative technologies and services to achieve carbon neutrality. Just a month after...

EDAG, Baier Motors Develop Electric Motorcycle for Africa

0
The Oryx Concept motorcycle, a collaboration between EDAG Group and start-up Baier Motors, is designed to meet the increasing demand in Africa for a...

MNRE Announces Minimum Efficiency Criteria For Thin Film Solar

0
Utility grid- scale power plants using CdTe should have efficiency of 19%.  For rooftop and solar pumping applications efficiency requirement is 18.5% and...

BYD Achieves 7 Million New Energy Vehicles, Last Million In 4 Months

0
BYD has become the first in the world to produce seven million new energy vehicles (NEVs), with the most recent million being manufactured in...

Manufacturing

JLR To Hire 250 Electrical Technicians For Future EVs

0
These new roles, part of a £15 billion investment, are in addition to 300 positions created last year by the British car maker. Jaguar Land...

Altmin India Partners With WMG To Advance Battery Tech

0
Altmin and WMG will collaborate to strengthen their global battery materials supply chain position by optimizing cathode materials and developing diverse cell designs across...

EVs To Cost Less Than Gas Vehicles by 2027, Says Gartner

0
Gartner predicts a faster decline in production costs compared to battery costs, which represent the most significant expense in an electric vehicle, accounting for...
MG

MG Motor To Set Up Battery Assembly Unit At Halol Facility

0
The company plans to investigate battery cell production in collaboration with external partners. Automaker MG Motor India is actively exploring the possibility of assembling and...

Servotech Boosts India’s EV Charging Infrastructure With Manufacturing Facility

0
The new facility is poised to start with an annual production capacity of 24,000 power modules and plan to scale up to 2.4 lakh...