Page 25 - Flipkart

Flipkart burns over $3.7 billion cash in about a year till Sep 2022

E-commerce major Flipkart has burnt cash of USD 3.7 billion (about Rs 30,000 crore) in about a year ending September 2022, according to regulatory filings. Flipkart had USD 1 billion in cash in July 2021, which came down to USD 887 million by September 2022. The company, in July 2021, raised USD 3.6 billion (about Rs 29,000 crore), which has been completely exhausted, according to regulatory filings of Flipkart and Walmart. It is the biggest cash burn in a year by any new-age company in the country, according to industry estimates. A Walmart regulatory filing shows that the company had approximately USD 1.1 billion as of July 31, 2022. "As of July 31, 2022, and January 31, 2022, cash and cash equivalents of USD 3.5 billion and USD 4.3 billion, respectively, may not be freely transferable to the US due to local laws or other restrictions. "Of the USD 3.5 billion on July 31, 2022, approximately USD 1.1 billion can only be accessed through dividends or intercompany financing arrange

Flipkart FY22 losses widen to over Rs 7,800 cr; net income rises by 20%

E-commerce major Flipkart's losses widened to over Rs 7,800 crore in the financial year 2021-22 based on performance of its business-to-business unit Flipkart India and B2C e-commerce unit Flipkart Internet, according to regulatory filings. According to filings, the combined loss of both entities stood at Rs 5,352 crore in the financial year 2020-21. Flipkart Internet, comprising online business-to-consumer platforms, has reported widening of loss to Rs 4,399 crore in FY22 from Rs 2,907 crore in FY21. This includes the performance of Fipkart Group firms like Myntra, Instakart etc. The B2b unit, Flipkart India -- earlier called Walmart India -- reported widening of loss to Rs 3,413 crore in FY22 from Rs 2,445.6 crore in FY21. The net income of Flipkart, however, increased by close to 20 per cent to about Rs 61,836 crore in 2021-22 with Flipkart India contributing Rs 51,176 core and Flipkart Internet registering a revenue of Rs 10,660 crore. Combined revenue of the e-commerce major

350 employees in Udaan to get pink slip in pursuit of profitability

India's largest business-to-business e-commerce firm sacked 180 employees in June

Nothing Ear (stick) gets Rs 1000 cheaper for Ear (1), Phone (1) customers

Priced at Rs 8,499, the Ear (stick) will be available on on the e-commerce platform Flipkart and Myntra from November 17

Consumer protection rules: E-tailers may need user nod to share data

E-commerce firms may have to incur higher costs for upgrading tech to comply with norm

Festival season propels demand for third-party logistics players

Further penetration into smaller cities will only add to this dependence on third-party delivery partners

Flipkart India FY22 revenue at Rs 51,176 cr, loss widens 39% to Rs 3,404 cr

The B2B arm of Walmart-owned e-commerce firm Flipkart reported expenses of Rs 54,580 crore, up about 19% over the previous year

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.

Nothing Ear (stick) hands-on: Five things these wireless earbuds roll about

Priced at Rs 8,499, the Nothing Ear (stick) will be available in India on Myntra and Flipkart from November 17

Explained: Why Indian Startups are establishing a base in Singapore

Singapore is number one in the world on the Heritage Foundation's index of economic freedom, number one in the World Economic Forum global competitiveness report last published in 2019

Flipkart's loss widens 51% to Rs 4,362 cr in FY22 on 36% spike in expenses

The firm spent more on delivering orders as well as on ads and promotions; revenue up 31% to Rs 10,659 cr

Flipkart's net loss widens 51% on account of rising transportation costs

Flipkart's operating loss or EBITDA (earnings before interest, taxes, depreciation, and amortisation) loss stood at Rs 3,925 crore, which was up from Rs 2,267 crore in the previous fiscal

Walmart reportedly raising up to $3 bn for Flipkart to expand India biz

Retail giant Walmart is reportedly raising up to $3 billion for its e-commerce giant Flipkart to further expand its operations in the country

Flipkart to raise up to $3 bn to expand product range in India: Report

Walmart Inc-backed Flipkart is considering raising $2 billion to $3 billion at a valuation of more than $40 billion to expand its product range in India

PhonePe in talks to raise $700 million at $12 billion valuation

Digital payments firm seeking investors' support to scale up operations and compete with rivals

Nothing Ear (stick) will be available on Myntra, Flipkart; launch on Oct 26

Second wireless earbuds in the Nothing's audio line, the Ear (stick) are going to be half in-ear design variant of the Ear (1)

Economy lightens up on festive season demand as shoppers back in force

Online marketplaces Amazon.com Inc., and Walmart Inc.-owned Flipkart saw sales jump 27% from a year ago to $5.7 billion during the festival season's first sale between Sept. 22-30

Flipkart Big Diwali sale: Samsung to Realme, deals on budget 5G smartphones

In its Big Diwali sale, Flipkart is offering exchange deals, bank offers, discounts, and no-cost EMI scheme on select smartphones. Check out the deals on budget 5G smartphones

Flipkart unveils Flipverse, a virtual shopping experience in metaverse

The e-commerce firm has partnered with Web3 entertainment firm eDAO for the initiative where consumers can discover products in photorealistic virtual destinations and shop on Flipkart App

Flipkart partners with eDAO for virtual shopping experience in metaverse

Homegrown e-commerce platform Flipkart announced that it has partnered with Polygon-incubated organisation eDAO to launch a metaverse space, Flipverse