Flipkart Internet's losses touch Rs 1,950 crore in FY20
Flipkart Internet said its revenue is mainly generated from e-commerce, information technology enabled services, marketplace and related support services
PTI | December 16, 2020 | Updated 12:17 IST
In India, Flipkart is locked in an intense battle with US-based e-tailing giant Amazon with both entities pumping in millions of dollars towards promotions, building infrastructure and logistics as they woo customers to shop online
Flipkart Internet, which operates the B2C online marketplace, has seen its consolidated loss widen to Rs 1,950.5 crore for the financial year ended March 2020, even as revenue grew about 32 per cent, as per regulatory documents. The company had registered a consolidated loss after tax of Rs 1,625.7 crore in the previous fiscal, according to Registrar of Companies filing - shared by market intelligence firm Tofler.