Flipkart narrows loss to Rs 3,150.6 crore in FY20
4 years ago

Flipkart narrows loss to Rs 3,150.6 crore in FY20

India TV News  

Flipkart India, the B2B arm of Walmart-owned Flipkart, has narrowed its losses to Rs 3,150.6 crore during 2019-20 as compared to the previous financial year, according to regulatory documents. The unit had posted a loss of Rs 3,836.8 crore for the financial year ended March 31, 2019, documents filed with the corporate affairs ministry showed. "During the financial year ended on 31st March 2020, the net total income of company was Rs 34,610.1 crore as against the net total income of Rs 30,934.9 crore in the previous financial year, witnessing an increase of 11.88 per cent in the net total income," documents sourced by business intelligence platform, Tofler said. Flipkart India is engaged in business of wholesale distribution of mobile, television, laptop, tablet, mobile accessory, footwear, clothing, etc, on B2B basis.

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Flipkart sets sights on IPO launch within 12-15 months: Report
Trending News
2 weeks, 1 day ago

Flipkart sets sights on IPO launch within 12-15 months: Report

India Today  

Flipkart which is valued at $36 billion, is preparing to launch its initial public offering within the next 12-15 months, reported The Economic Times. The US retail giant has consistently expressed confidence in Flipkart’s growth potential, with executives highlighting strong performance in flagship events like the Big Billion Days sale. But now there's strong growth both in Flipkart and in …

Flipkart valuation declines over ₹41,000 crore in two years: Major reasons why
9 months ago

Flipkart valuation declines over ₹41,000 crore in two years: Major reasons why

Hindustan Times  

Flipkart's valuation has declined by $5 billion or around ₹41,000 crore as of January 2024 compared to January 2022, as per equity transactions carried out by its US-based parent firm Walmart. The company's ownership of Flipkart increased from approximately 75 per cent as of January 31, 2023, to approximately 85 per cent as of January 31, 2024.” Flipkart valuation: A …

Flipkart valuation declines by over Rs 41,000 cr in two years
9 months, 1 week ago

Flipkart valuation declines by over Rs 41,000 cr in two years

New Indian Express  

NEW DELHI: E-commerce firm Flipkart's valuation has declined by USD 5 billion or around Rs 41,000 crore as of January 2024 compared to that in January 2022, according to equity transactions carried out by its US-based parent firm Walmart. The valuation of the e-commerce firm declined to USD 35 billion as of January 31, 2024, from USD 40 billion in …

Flipkart Layoff: Ecommerce player set to let go 1,500 employees | Know-why
11 months, 2 weeks ago

Flipkart Layoff: Ecommerce player set to let go 1,500 employees | Know-why

India TV News  

Flipkart, one of the popular e-commerce platforms of India is reportedly planning to reduce its workforce by 5-7 per cent in early 2024 which may affect nearly 1,500 employees. E-commerce major Flipkart had a total revenue of Rs 56,013 crore in the 2023 financial year, according to data from business intelligence platform Tofler. The company reported a net loss of …

Flipkart to lay off 5-7% workforce, performance-based job cuts in March: Report
11 months, 2 weeks ago

Flipkart to lay off 5-7% workforce, performance-based job cuts in March: Report

Hindustan Times  

E-commerce giant Flipkart is planning to cut around 5-7 per cent of jobs due to performance based reviews and restructuring withing the company, reported The Times of India. Flipkart is planning to better utilise its resources across old and new businesses, said sources. Flipkart IPO in the works While the company is planning restructuring projects to keep the ship afloat, …

Flipkart’s B2B arm aims to triple reach by year-end
3 years, 4 months ago

Flipkart’s B2B arm aims to triple reach by year-end

Live Mint  

E-commerce major Flipkart group’s business-to-business marketplace Flipkart Wholesale said on Thursday it will triple its reach by July-December 2021, following which the marketplace will serve kirana stores in 2,700 cities across the country. The company said it will be grow its supplier base by 58% in 2021, having seen its kirana customer base rise 17% year-on-year during January-June 2021, it …

In Compliance with Indian Laws, Will Cooperate with Enforcement Directorate on Notice: Flipkart
3 years, 4 months ago

In Compliance with Indian Laws, Will Cooperate with Enforcement Directorate on Notice: Flipkart

News 18  

Walmart-owned Flipkart on Thursday said the company is in compliance with Indian laws, including FDI regulations, and will cooperate with the Enforcement Directorate on the notice sent to the e-commerce major. The Enforcement Directorate has issued a show cause notice of Rs 10,600 crore to Flipkart and its promoters for alleged violation of the foreign exchange law, official sources said …

Flipkart raises USD 3.6 billion from GIC, SoftBank, Walmart, others; valuation hits USD 37.6 billion
3 years, 5 months ago

Flipkart raises USD 3.6 billion from GIC, SoftBank, Walmart, others; valuation hits USD 37.6 billion

India TV News  

Flipkart Group on Monday said it has raised USD 3.6 billion in funding led by GIC, Canada Pension Plan Investment Board, SoftBank Vision Fund 2 and Walmart, valuing the e-commerce giant at USD 37.6 billion. The current funding round has The investment values the Group at USD 37.6 billion post-money, Flipkart said in a statement. As we serve our consumers, …

Flipkart opens 2.2 lakh sq ft warehouse in West Bengal, to create about 3,500 direct jobs
3 years, 6 months ago

Flipkart opens 2.2 lakh sq ft warehouse in West Bengal, to create about 3,500 direct jobs

India TV News  

Walmart-owned Flipkart on Wednesday said it has set up a new fulfilment centre in West Bengal, its second-largest in the state, that will help in creating nearly 3,500 direct jobs. Spread across an area of over 2.2 lakh sq ft, the new facility in Dankuni will cater to the needs of Flipkart and Myntra customers in the region and bolster …

Flipkart Internet sees losses widen to Rs 1,950 crore in FY20
4 years ago

Flipkart Internet sees losses widen to Rs 1,950 crore in FY20

India TV News  

Flipkart Internet, which operates the B2C online marketplace, has seen its consolidated loss widen to Rs 1,950.5 crore for the financial year ended March 2020, even as revenue grew about 32 per cent, as per regulatory documents. Its consolidated net total income was at Rs 6,318.7 crore for 2019-20 as against Rs 4,803 crore in the previous financial year, a …

Flipkart Big Billion Days Sale 2020 achieves 10 times growth as compared to last year
4 years, 2 months ago

Flipkart Big Billion Days Sale 2020 achieves 10 times growth as compared to last year

India TV News  

Flipkart, on Wednesday, said that it delivered 1 crore shipments in the first five days of its Big Billion Day sale which is a massive 10 times growth compared to the last BBD when only 10 lakh deliveries were made by the e-commerce marketplace in the same period. In cheer for MSMEs, over 66.6 crore visits were recorded during the …

Walmart India’s losses widen to ₹299 cr in FY20
4 years, 2 months ago

Walmart India’s losses widen to ₹299 cr in FY20

Live Mint  

New Delhi: Walmart India Private Limited, which operates 28 wholesale stores under the Best Price Modern Wholesale format, reported net loss of ₹299.20 crore for the year ended 31 March, 2020. Walmart India, whose wholesale business was recently acquired by e-commerce major Flipkart Group, had reported a net loss of ₹171.68 crore in FY19, according to financial data accessed by …

Flipkart Wholesale joins B2B battlefield
4 years, 3 months ago

Flipkart Wholesale joins B2B battlefield

Live Mint  

BENGALURU: Homegrown e-tailer Flipkart has launched its digital business-to business marketplace as e-commerce firms boost such operations, digitising kiranas and leveraging online sales to take advantage of India’s large consumer base. Ltd, which operates the Best Price cash-and-carry wholesale stores, digital marketplace Flipkart Wholesale will help the e-commerce firm grow its B2B vertical. “Flipkart Wholesale is built on the core …

Flipkart Raises $1.2Bn in Walmart-led Funding, Valued at $24.9Bn
4 years, 5 months ago

Flipkart Raises $1.2Bn in Walmart-led Funding, Valued at $24.9Bn

The Quint  

Indian e-commerce giant Flipkart has raised $1.2 billion in a funding round led by its majority stakeholder Walmart along with other existing shareholders. This is the largest fund raising for Flipkart since Walmart acquired the retail platform two years ago for $16 billion. Flipkart CEO Kalyan Krishnamurthy, in a statement, said, “Since Walmart’s initial investment in Flipkart, we have greatly …

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