ETtechFlipkart India, the business-to-business arm of Walmart-owned Flipkart, saw revenue jump 34.5% to Rs 50,992 crore in financial year 2021-22 (FY22), regulatory filing sourced through business intelligence platform Tofler showed.
Revenue was Rs 42,941 crore in FY21.
Expenses, including inventory costs, employee salaries and finance costs, also shot up in the period, the filings showed.
Flipkart India sells goods to online sellers who then sell them through the company’s online marketplace entity, Flipkart Internet.
Flipkart Internet posted a 33% rise in operating revenue in FY22 to Rs 10,476 crore.
While Flipkart Internet makes revenue through commissions and other services, Flipkart India’s revenue mainly comes from selling goods to sellers and sales through its B2B ecommerce marketplace to mom-and-pop stores across the country.
The company also earns revenue by collecting transaction and logistics fees from vendors who place orders through Flipkart’s B2B ecommerce marketplace.
Flipkart India purchased goods worth Rs 53,878 crore in FY22 compared to Rs 47,629 crore in FY21.
Employee benefit costs rose 62% to Rs 627 crore in FY22 from Rs 385 crore in FY21, leading to a 19% increase in overall costs to Rs 54,580 crore.
Flipkart India is among several entities owned by US retailer Walmart, including companies such as fashion e-tailer Myntra, travel portal Cleartrip and Walmart India (which runs the Best Price wholesale stores), among others.
ET reported on October 28 citing the latest regulatory filings that losses of global retail giants Walmart and Ikea in India had widened in 2021-22 despite a surge in sales.
Flipkart’s increased inventory and employee benefit costs could also be attributed to inflation during the first half of the calendar year affecting overall sales.
Flipkart Group CEO Kalyan Krishnamurthy told ET in September that sales had been sluggish during the first few months of the fiscal year but had started picking up in August.
Sales are, however, expected to remain tepid.
In late October, Delhivery, the country’s largest ecommerce third-party logistics service provider, told investors that it had a moderate outlook for the rest of the year, leading to shares tumbling below their issue price.
Meanwhile, Flipkart-owned Myntra’s revenue from operations jumped 45% to Rs 3,501 crore, while losses widened 40% to Rs 597 crore in FY22.
Revenue was Rs 42,941 crore in FY21.
Losses in FY22 widened by almost 40% to Rs 3,404 crore.
Expenses, including inventory costs, employee salaries and finance costs, also shot up in the period, the filings showed.
Flipkart India sells goods to online sellers who then sell them through the company’s online marketplace entity, Flipkart Internet.
Flipkart Internet posted a 33% rise in operating revenue in FY22 to Rs 10,476 crore.
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While Flipkart Internet makes revenue through commissions and other services, Flipkart India’s revenue mainly comes from selling goods to sellers and sales through its B2B ecommerce marketplace to mom-and-pop stores across the country.
The company also earns revenue by collecting transaction and logistics fees from vendors who place orders through Flipkart’s B2B ecommerce marketplace.
Flipkart India purchased goods worth Rs 53,878 crore in FY22 compared to Rs 47,629 crore in FY21.
Employee benefit costs rose 62% to Rs 627 crore in FY22 from Rs 385 crore in FY21, leading to a 19% increase in overall costs to Rs 54,580 crore.
Flipkart India is among several entities owned by US retailer Walmart, including companies such as fashion e-tailer Myntra, travel portal Cleartrip and Walmart India (which runs the Best Price wholesale stores), among others.
ET reported on October 28 citing the latest regulatory filings that losses of global retail giants Walmart and Ikea in India had widened in 2021-22 despite a surge in sales.
Flipkart’s increased inventory and employee benefit costs could also be attributed to inflation during the first half of the calendar year affecting overall sales.
Flipkart Group CEO Kalyan Krishnamurthy told ET in September that sales had been sluggish during the first few months of the fiscal year but had started picking up in August.
Sales are, however, expected to remain tepid.
In late October, Delhivery, the country’s largest ecommerce third-party logistics service provider, told investors that it had a moderate outlook for the rest of the year, leading to shares tumbling below their issue price.
Meanwhile, Flipkart-owned Myntra’s revenue from operations jumped 45% to Rs 3,501 crore, while losses widened 40% to Rs 597 crore in FY22.
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