Page 8 - Flipkart

E-commerce firm Flipkart loss widens 45% to Rs 4,891 crore in FY23

The company's total expenses for the fiscal were reported as Rs 60,858 crore, an increase of 11.5 per cent from Rs 54,580 crore in the last fiscal

E-commerce major Flipkart loss widens to Rs 4,890.6 cr in FY 2022-23

E-commerce major Flipkart India Private Limited has reported a widening of consolidated loss to Rs 4,890.6 crore in the financial year 2022-23, according to financial data provided by business intelligence platform Tofler. The Walmart group e-commerce firm posted a consolidated loss of Rs 3,371.2 crore in the financial year (FY) 2022. On a standalone basis, Flipkart's net loss or loss carried to the balance sheet widened to Rs 4,839.3 crore. "Net loss for the financial year ending as on 31st March 2023 was Rs 48,393 million as against that of previous year ending as on 31st March 2022 of Rs 33,624 million witnessed an increase of 44 per cent in the net loss," Flipkart's financial report said. During the reported fiscal, the company's consolidated net total income, including income from other sources, increased by 9.4 per cent to Rs 56,012.8 crore from Rs 51,176 crore in FY 2022. Its standalone net total income was the same as the consolidated numbers. "The company's total expense

Week 1 of festival season sale saw Rs 47,000 crore GMV, says Redseer

Redseer claimed that Flipkart Group, continues to assert its leadership in Week 1 of the 2023 Festive Season sale

Record 1.4 bn visits during 'The Big Billion Days' festive sales: Flipkart

Choices in smartphones, laptops, tablets and home appliances indicate a strong premiumisation trend across India this year, said Flipkart

Expanding our grocery, fulfilment centres in 12 months: Flipkart's Badri

Badri said that Flipkart is generating over 100,000 new job opportunities across its supply chain to provide services during the festive season

Early Diwali: Festival fireworks light up Flipkart, Amazon e-tail party

The CBDT chief said that the department has resolved 1.4 lakh entries under a new demand management facilitation system it launched last year

Non-metros drive Flipkart's annual sale on Day 1 with 60% of orders

Non-metro cities dominated Flipkart's The Big Billion Day sale on Day 1, accounting for 60 per cent of orders placed while mobile phones, appliances and lifestyle products were the preferred choice for customers, the company said on Tuesday. Lifestyle products sellers on the marketplace saw a 10-fold growth in the number of orders placed compared to the pre-festive period, followed by Furniture (8-fold) and Electronics (7-fold) categories, Flipkart said in a statement. "Over 60 per cent of orders were placed from Tier 1, 2 and 3 cities," the statement citing sales data on October 7 said. The company recorded 9.1 crore customer visits on the first day of the sale that started on October 7. Flipkart started The Big Billion Day (TBBD) on October 8 with 24-hour early access to its VIP members, which are paid subscribers, and Plus category members, who shop from the platform at least four times in a year. Flipkart saw the highest number of shoppers from Bangalore, Delhi and Hyderabad,

Flipkart Big Billion Days, Day 3: Mobiles, laptops to buy at low prices

Flipkart is offering mobiles and laptops at a huge discount during the Big Billion Days sale, which started on October 8, 2023. Here's everything you should know about the sale and discounted products

Festive season sale: E-commerce firms witness over 15% growth in orders

Myntra is expecting over 8 million customers to shop during BFF. Last year, about 6 million customers shopped during the event

InGovern flags concerns with FinMin about Flipkart hiring ex-CCI Officer

InGovern suggests that the integrity of the ongoing CCI probes into e-commerce behemoths Flipkart-Walmart and Amazon is questionable

Flipkart's annual event, 'The Big Billion Days' will also be on Cleartrip

/ -- With the festive season around the corner, Cleartrip, a Flipkart company, is gearing up for one of the biggest travel extravaganza of the year by bringing Flipkart's flagship event, 'The Big Billion Days' (TBBD) on its platform from 8 to 15 October 2023 (Sale starts early on Cleartrip on 7 October 2023). Curated to create value and affordability for customers, this year's TBBD will bring to customers, never-seen-before offers across its lines of businesses on Cleartrip. This year's edition of Flipkart's TBBD will see the addition of exciting features across its categories. Cleartrip has recently undergone a significant overhaul of its user experience across its platform. This transformation was driven by a commitment to an exceptional customer experience, especially during high-demand festive periods when time is of the essence. This revamp strongly emphasises enhancing price options and display of features, empowering users to make informed decisions throughout the booking ...

Google's Pixel 8, Pixel 8 Pro and Pixel Watch 2 available for pre-orders

The Pixel 8 is priced at Rs 75,999 while the Pixel 8 Pro will retail for Rs 106,999. The Pixel Watch 2 is available for Rs 39,900

E-tailing in India is expected to grow 5x to $300 bn by 2030: Redseer

There is expected to be 6 to 8-fold growth in 3PL (third-party logistics) shipments between 2022 and 2030 - from 2 billion in 2022 to an estimated 13-17 billion in 2030, according to Redseer report

CAIT files complaint against Flipkart, Amitabh Bachchan for 'misleading' ad

Traders' body CAIT has filed a complaint with the Ministry of Consumer Affairs against a Flipkart advertisement featuring Bollywood star Amitabh Bachchan on the upcoming Big Billion Days sale, terming the advertisement as "misleading". The Confederation of All India Traders (CAIT) in its complaint to the Central Consumer Protection Authority (CCPA) termed the advertisement "misleading" and against the country's small retailers. It has also sought withdrawal of the advertisement, according to a statement. CAIT demanded that a penalty be imposed on Flipkart as per relevant provisions of the Consumer Protection Act for "false or misleading advertisement" and imposition of a Rs 10 lakh fine on Bachchan. An email sent to Flipkart did not elicit a response. Bachchan could not be contacted for comments. "As per the definition under Section 2(47), Flipkart, acting through Amitabh Bachchan (endorser), have misled the public regarding the price at which mobile phones are being made available

Flipkart unveils VIP subscription programme ahead of the festive season

Flipkart is taking on Amazon by introducing a paid subscription service primarily aimed at shoppers in top cities.

How an advertisement featuring Amitabh Bachchan landed Flipkart in trouble

The Confederation of All India Traders (CAIT) wrote to Amitabh Bachchan stating that his recent ad for Flipkart spreads misinformation and hurts local businesses

Amazon, Flipkart sales could go up by 16% on festive season boost

Marketplaces like Flipkart and Amazon India earn a major chunk of their yearly gross sales in the festive period which usually lasts for a month

Flipkart appoints Microsoft's Keshav Dhakad as senior V-P, general counsel

Dhakad has moved out of Microsoft after spending 15 years with the tech giant in various roles

Final draft of e-commerce policy skips consumer data protection regulations

The earlier draft of the policy which was released in 2019 talked extensively about the ways in which e-commerce companies could collect user data

Flipkart Ventures invests in five early-stage technology startups

These investments are a part of the accelerator programme - Flipkart Leap Ahead (FLA)