Flipkart FY22 net loss widens to Rs 3,413 cr despite increase in revenues

E-commerce major Flipkart India's consolidated net loss widened to Rs 3,413 crore in the financial year 2021-22 despite increase in revenues, according to financial data accessed by business intelligence platform Tofler.

The Walmart group-owned firm had reported a net loss of Rs 2,445.6 crore in the previous financial year 2020-21.

On a standalone basis, Flipkart's net loss widened to Rs 3,404.3 crore during 2021-22 from Rs 2,444.8 crore in 2020-21.

Net total income both on standalone and consolidated basis increased by about 18 per cent to Rs 51,175.7 crore from Rs 43,349.1 crore in FY21.

The company's total expenses for the fiscal were reported at Rs 54,580 crore, Tofler said.

The company acquired stake in 63Ideas Infolabs, which operates the Ninjacart brand, and 50 per cent stake in Childrenite Private during the year.

An email query sent to Flipkart elicited no immediate reply.