In the financial year 2023, Flipkart’s marketplace arm, Flipkart Internet, witnessed a notable 42% rise in its operating revenue, reaching Rs 14,845 crore compared to Rs 10,477 crore in the previous year. Simultaneously, the business managed to reduce its losses by 9%, amounting to Rs 4,026 crore compared to Rs 4,419 crore in the previous fiscal year.
Flipkart Internet is responsible for operating the platform where Flipkart sells its products and earns revenue through seller commissions, fees, and advertisements. In this financial year, its earnings from logistics services surged by 50%, totaling Rs 5,789 crore, as per data sourced from Tofler, a business intelligence platform.
The revenue from providing marketplace services to sellers and advertising notably increased to Rs 3,713 crore and Rs 3,324 crore, respectively, surpassing the figures from the previous year. However, the business also experienced a 26% rise in expenses, totaling Rs 19,043 crore in the same period.
Furthermore, among Flipkart’s other subsidiaries is Flipkart India, managing the wholesale operations. In the financial year 2023, Flipkart India reported a 9% increase in operating revenue, reaching Rs 55,823 crore. However, its losses also grew by 42%, reaching Rs 4,845 crore, according to the Economic Times.
