Flipkart's consolidated deficit increased to $4,890.6 crore in FY23, with a 44% increase in net loss

 Flipkart's consolidated deficit increased to $4,890.6 crore in FY23, with a 44% increase in net loss

According to Reuters and the business intelligence platform Tofler, the leading e-commerce company Flipkart recorded a higher consolidated loss of $4,890.6 crore in FY23. 

On a stand-alone basis, the firm, which is owned by Walmart, saw its net loss or loss carried to the balance sheet grow to 4,839.3 crore.

According to the report, net loss increased year over year (YoY) by 44% from FY22's 3,404 crore to FY23's 4,846 crore.

Consolidated net total income, which includes revenue from various sources, increased from 51,176 crore in FY 2022 to 56,012.8 crore in FY 23. This represents an increase of 9.4%. 

Additionally, the report said that standalone net total income was identical to consolidated figures. Additionally, it said that total costs for FY23 were 60,858 crore.

The report further said that Flipkart did not reply to inquiries.