Flipkart's losses double to Rs 2,306 crore in FY16

Losses mount despite growth in revenue as Amazon matches it in a discount war

Flipkart drain on Amazon forces it to up commissions

Flipkart Internet, the marketplace unit of India's largest e-commerce player Flipkart, reported a loss of Rs 2,306 crore in the year that ended March 31, 2016, as it battles a cash flush Amazon to retain leadership in the country. The company's losses more than doubled from Rs 1,096 crore in fiscal year 2015, as Amazon too stepped up spending and closed the gap between itself and Flipkart. Earlier this year, Amazon’s aggression was seen when it overtook number two player Snapdeal. While Flipkart's losses grew, so did its revenue. The Indian firm reported a ...