Home grown e commerce portal, Flipkart, despite meeting with an overall increase in the revenue, however met with a loss of INR 8,771 Cr during FY 17. The financial data released by Flipkart officials suggested that the revenue of e commerce giant has rose by 29 percent, compared to previous year. The overall revenue of Flipkart for FY 17 stands at INR 19,854 Cr.
Further adding, reports suggested that Flipkart’s loss was primarily due to the increase in the finance costs – INR 4,308 Cr. Earlier, in April 2017, the value of Flipkart fell to $11.6 Billion from the 2015 value of $15.2 Billion. Advertisement and business promotion expenses, employee benefit expenses have all contributed to the overall loss of Flipkart.
