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Flipkart marketplace arm revenue grows 21% to Rs 17,907 crore, cuts loss by 41% in FY24

Economic TimesEconomic Times Ā· 1m
Flipkart marketplace arm revenue grows 21% to Rs 17,907 crore, cuts loss by 41% in FY24

Flipkart Internet, the marketplace arm of Flipkart, has reported a revenue of Rs 17,907.3 crore for the fiscal year 2023-24, marking a 21% YoY growth. The company also managed to reduce its losses by 41% to Rs 2,358 crore. Flipkart Internet's revenue primarily comes from seller commissions, advertising, and other fees for seller services. In the previous fiscal year, the company earned nearly Rs 5,000 crore from advertising, surpassing various marketplace fees. The focus on profitability and organizational restructuring have contributed to the company's growth and reduced operating costs. Meanwhile, Amazon India is preparing to launch its quick commerce services in the country by the first quarter of 2025.

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