Flipkart's FY19 group revenue up 42% at $6 bn; losses decline 63%

The e-commerce company managed to achieve a 63% reduction in losses from Rs 46,895 crore ($6.6 billion) in 2018 to Rs 17,231 crore ($2.42 billion) for the financial year ending March 31, 2019.

E-commerce major Flipkart witnessed a 63 per cent decline in losses and a 42 per cent jump in consolidated revenue in the 2018-19 financial year (FY19), according to a regulatory filing by the Singapore holding company that was accessed by business intelligence platform Paper.vc. The Bengaluru-headquartered company has reported revenue of Rs 43,615 crore ($6.14 billion) in FY19.
 
FY19 numbers assume significance because, baring the first four months of the financial year, Flipkart was owned by American retail major Walmart.
 
The company’s losses fell from Rs 46,895 crore ($6.6 billion) in FY18 to Rs 17,231 crore ($2.42 billion)