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Flipkart reports Rs 2,000-crore loss, discount war takes toll

  • Flipkart posted a
    loss of about Rs 2,000 crore in the year ended March 2015, as the country’s
    largest online retailer spent heavily to fund discounts, while investing in
    back-end operations, the
    Economic Times
    reported.
  •  
  • Flipkart Internet, which runs the consumer-facing portal, registered a
    • Flipkart posted a
      loss of about Rs 2,000 crore in the year ended March 2015, as the country’s
      largest online retailer spent heavily to fund discounts, while investing in
      back-end operations, the
      Economic Times
      reported.
    •  
    • Flipkart Internet, which runs the consumer-facing portal, registered a
      net loss of Rs 1,096.4 crore, while that of Flipkart India, the wholesale arm, was Rs
      836.5 crore, according to a Registrar of Companies filing. Combined sales
      trebled to Rs 10,390 crore. A year ago, the units had a combined loss of Rs 715
      crore.
    •  
    • The company expects
      sales to surge six-fold this year, according to head of commerce Mukesh Bansal.
    •  
    • Bansal told ET in September that the company was on
      course to sell goods worth Rs 65,000 crore in fiscal 2016.
    •  
    • Flipkart is also
      looking to double its seller count by March from 60,000 now in an effort to
      convert itself into a pure marketplace similar to rival Snapdeal.
    •  
    • India’s ecommerce market is set to rise to $103 billion by
      2020 from $26 billion now, according to a Goldman Sachs report.

     

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