Marketplace arm of Flipkart, Flipkart Internet’s revenue grew 21% 12 months-on-12 months (YoY) to INR 17,907.3 Cr for the economic year 2023-24 (FY24), in step with the regulatory filings from Tofler.
The company mentioned a decline of forty one% in its losses, right down to INR 2,358 Cr.
Notably, the employer’s marketplace charge earnings for the yr within the overview remains stagnant, to INR three,734.2 Cr from 3,713.2 Cr within the 12 months in the past duration. However, its profits from series offerings went up to INR 1,225.8 Cr from INR 1,114.3 Cr in the identical duration.
Earlier this 12 months, the corporation obtained INR 1,421 Cr (round $170 Mn) from its Singapore figure through an internal coins transfer.
The switch become finished in tranches — on March 23 and on April 6, RoC filings showed.
This is the second one fundamental fund infusion by means of the Singapore-primarily based entity into Flipkart Internet.
