 "Flipkart marketplace arm revenue grows 21%, losses reduce by 41% in FY24")
Flipkart Internet, the marketplace arm of Walmart-owned Flipkart, reported a 21 per cent year on year (Y-o-Y) growth in its revenue to Rs 17,907.3 crore in FY24.
The platform’s losses declined 41 per cent to Rs 2,358 crore, according to regulatory filings sourced from business intelligence platform Tofler.
Flipkart operates its India business through multiple entities. Flipkart Internet generates revenue through advertising, seller commissions, and value-added services.
In FY24, Flipkart Internet generated nearly Rs 5,000 crore from advertising, up from Rs 3,324.7 crore in the previous year.
Also Read
The entity recorded Rs 3,734.2 crore as marketplace fee income for FY24 compared to Rs 3,713.2 crore in the previous year. Income from collection services increased to Rs 1,225.8 crore from Rs 1,114.3 crore in the previous year.
The employee benefits cost for the firm was Rs 5,177 crore, up from Rs 4,482 crore in the previous financial year. In FY24, the firm incurred a logistics services cost of Rs 6,230.6 crore. It earned Rs 1,491.5 crore in collection charges while generating revenue of Rs 6,966.4 crore from providing logistics services to sellers.