In the fiscal year 2023, the business-to-consumer division of Flipkart, known as Flipkart Internet, approached the INR 15,000 crore sales milestone, marking a significant 42% increase from INR 10,477.4 crore in the previous fiscal year (FY22), reaching INR 14,845.8 crore.
Flipkart Internet, a subsidiary of Walmart-owned Flipkart, generates its primary revenue through commission charges and various services provided to merchants, including product advertising. When factoring in other sources of income, its overall revenue experienced a notable 41% growth, reaching INR 15,044 crore in the fiscal year under review, compared to INR 10,640.5 crore in FY22.
Furthermore, the company successfully reduced its cash burn, resulting in a 9% decrease in net loss, which amounted to INR 4,026.5 crore in the fiscal year 2023, compared to INR 4,419.5 crore in FY22.
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