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Flipkart's logistics arm Ekart suffers massive Rs 810-crore loss

With competition from Amazon, its value erode, making it harder to raise funds at new valuation

Karan Choudhury  |  New Delhi 

Flipkart’s supply chain and logistics arm Instakart Services or Ekart Logistics has incurred losses of Rs 810 crore on a revenue of Rs 303 crore in the nine months to March, its first year of operation, after the Indian e-commerce major spun it off as a separate unit, people familiar with the development said. The logistics arm losses come over and above the Rs 2,850 crore losses its two entities — Flipkart India and Flipkart Internet —showed for FY16. Ekart Logistics was incorporated in June 2015. Ekart is trying to add more third party clients to increase ...

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First Published: Fri, January 06 2017. 09:00 IST
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