Flipkart India, the business-to-business arm of Walmart-owned e-commerce firm Flipkart, reported its revenues for the financial year 2021-22 as Rs 51,176 crore, an 18 per cent jump since the last financial year. The company further reported a net loss of Rs 3,404 crore during the same fiscal. This is a 39 per cent increase from the last financial year, according to regulatory documents sourced from the business intelligence platform Tofler.
The company’s total expenses for the fiscal were reported as Rs 54,580 crore compared to Rs 45794 crore or about 19 per cent higher than the previous year. Expenses related to employee benefits, inventory costs, finance costs, and depreciation increased in FY22.
The expenses related to employee benefits are Rs 627 crore compared to Rs 385 crore last year. The finance cost is Rs 141 crore compared to Rs 81.7 crore the previous year. Other expenses are Rs 532 crore compared to Rs 296 crore last year.
Flipkart India’s revenue mainly comes from selling goods through its business-to-business e-commerce marketplace to Kiranas across the country. It also earns revenue by providing its business-to-business e-commerce marketplace services to vendors. It is among several entities that form Flipkart Group such as marketplace arm Flipkart Internet, fashion retailer Myntra, and travel platform Cleartrip.
Entities like Flipkart Internet Private Limited, the marketplace arm of Flipkart Group, generate revenue from various sources, such as marketplace, collection, logistics, storage, and advertisements.
Flipkart Internet recently, posted a 31 per cent year-on-year jump in its revenue to Rs 10,659 crore for the financial year 2021-22 (FY22), even as its net loss widened 51 per cent to Rs 4,362 crore in this period. The company’s total expenses for FY22 stood at Rs 15,020 crore, about 36 per cent higher than the previous year, mainly due to expenses related to order deliveries, advertisements and promotions, and employee benefits.
Myntra Designs Private Limited, reported its revenue for FY22 at Rs 3,610 crore, a 46 per cent year-on-year jump. The company further reported a net loss of Rs 597 crore for the same year, according to Tofler, widening 40 per cent from the previous financial year. Total expenses for the fiscal year were reported as Rs 4,206 crore.
Another entity Wal-mart India Private Limited, which owns and operates 28 B2B Modern Wholesale Stores under the brand name of ‘Best Price’ reported its revenues for the financial year 2021-22 as Rs 5,362 crore, a 6 per cent jump since the last financial year. Wal-mart India, in which Flipkart acquired 100 per cent interest in 2020, further reported a net loss of Rs 299 crore during the same fiscal. This is a 49 per cent increase from the last financial year. The company’s total expenses for the fiscal were reported as Rs 5,661 crore.