Flipkart's Marketplace Arm Cuts Loss By 41% In FY24

Flipkart Internet Pvt., the consumer marketplace arm of Flipkart India, posted a 21% hike in its revenue, coupled with a 41% decline in losses, signalling better operational efficiency.

The Bengaluru-based company posted a revenue from operations of Rs 17,907.3 crore, up from Rs 14,825 crore in fiscal 2023. Its reduced losses meaningfully from Rs 4,028 crore to Rs 2,358 crore during the same period, according to filings sourced from Tofler.

Flipkart operates via two arms in India, Flipkart Internet and Flipkart India. While Flipkart Internet operates the website, which is the marketplace, the latter operates its B2B businesses. It posted about Rs 70,542 crore in revenue from operations and a loss of about Rs 4,250 crore for fiscal 2024.

The company earned Rs 4,972 crore from advertising, up from Rs 3,324.7 crore in the previous year. Its marketplace fee income came in flat at Rs 3,734.2 crore, while the logistics services contributed Rs 6,966 crore.

Flipkart's renewed focus on profitability is in line with the larger market sentiment, where new-age companies are quickly aligning their financials to what's desirable, as the time for a primary listing approaches.

Walmart Inc. is exploring the right time to bring Flipkart to primary markets, and its quick-commerce foray and festive sale aggressiveness are all part of its strategy to remain a major player during heightened competition in the e-commerce.