Flipkart India (owned by U.S.-based Walmart) reported ₹43357 crores in revenue for the financial year 2020-2021 (FY21), as per the regulatory documents sourced from business intelligence platform Tofler. This is said to be a 25 percent jump in revenue recorded in FY20. The company also reported a 23 percent decrease in losses from FY 20 as the number stands at ₹2445 crores for FY21. The company’s overall expenses stand at ₹45801 crores when compared to ₹37,760 crores in FY20.
In a separate filing reported by Tofler, Flipkart Internet Private Limited reported ₹8115 crores jump in revenue for FY21, a 28 percent jump compared to FY20. The losses however widened to ₹2881 crores, a 49 percent jump from FY20. The overall revenue stood at ₹10996 crores.
Rival e-commerce giant Amazon Seller Services Private Limited clocked a revenue of ₹16379 crores for FY21 which is a 49 percent increase over FY20. Net losses decreased to ₹4748 crores which is a 19 percent decrease from FY20.
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Amazon Wholesale (India) Pvt Ltd reported ₹3143 crores for FY21 which is 7 percent less than what was recorded for FY20. The profit was up at ₹43 crores, a 132 percent increase over FY20. The expenses stood at ₹3089 crores.
India’s crowded e-commerce space is expected to grow by 84 percent to USD 111 billion by 2024, as per report by Affle’s MAAS. As per Bobble AI, India’s largest conversation media platform, e-commerce in India saw a 77 percent increase in 2021, compared to last year. As per a recent report by Accenture India, around 80 precent of India’s social media users use social commerce for purchases.
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