NEW DELHI: India’s new age tech corporations proceed to stay deep within the purple. Walmart owned Flipkart posted lack of over Rs 4,000 crore in FY23. Knowledge sourced from market intelligence platform Tofler confirmed that Flipkart Web, which runs the Flipkart e-commerce market reported lack of Rs 4,026 crore on a consolidated foundation in FY23. Flipkart’s B2B arm had earlier reported lack of Rs 4,897 crore.
Omni-channel retailer FirstCry, which is making ready to listing on bourses subsequent 12 months, additionally reported steep loss in FY23, which shot as much as Rs 486 crore through the 12 months in comparison with lack of Rs 78 crore posted in FY22, the agency’s RoC filings confirmed. Flipkart, which along with Amazon, corners the majority of India’s e-commerce market, reported solely a marginal drop in year-on-year losses in FY23.
In FY22, the corporate posted lack of Rs 4,419 crore. FirstCry recorded greater than 500% improve in y-o-y losses in FY23. Money burn in B2C corporations are sometimes greater than B2B companies.
Omni-channel retailer FirstCry, which is making ready to listing on bourses subsequent 12 months, additionally reported steep loss in FY23, which shot as much as Rs 486 crore through the 12 months in comparison with lack of Rs 78 crore posted in FY22, the agency’s RoC filings confirmed. Flipkart, which along with Amazon, corners the majority of India’s e-commerce market, reported solely a marginal drop in year-on-year losses in FY23.
In FY22, the corporate posted lack of Rs 4,419 crore. FirstCry recorded greater than 500% improve in y-o-y losses in FY23. Money burn in B2C corporations are sometimes greater than B2B companies.
