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Flipkart-Owned Cleartrip Spent Over INR 5 To Earn Every Rupee In FY25

Inc42 · 19h ago

Flipkart-Owned Cleartrip Spent Over INR 5 To Earn Every Rupee In FY25

In FY25, Flipkart-owned Cleartrip reduced its net loss by 20% to INR 651.1 crore, compared to the previous fiscal year. The online travel aggregator's operating revenue grew by 70% to INR 169.2 crore. Including other income, Cleartrip’s total income for the year was INR 234.6 crore. Despite the increased revenue, Cleartrip spent INR 5.23 to earn every rupee, primarily due to high operating expenses and discounts offered.

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DailyHunt parent VerSe innovation spent INR 2.5 to earn every rupee In FY23

Inc42 · 1y ago

DailyHunt parent VerSe innovation spent INR 2.5 to earn every rupee In FY23

VerSe Innovation, the parent company of DailyHunt and Josh, reported a net loss of INR 1,909.7 Cr in FY23, a 25% reduction from the previous fiscal year. The company's operating revenue soared 51% to INR 1,456.5 Cr in FY23. Total expenditure marginally increased to INR 3,716 Cr in FY23. Cost of services accounted for 71% of the total expenditure, while employee benefit expenses rose by 11% to INR 811.4 Cr. VerSe Innovation spent INR 2.55 to earn every rupee from operations in FY23.

Flipkart Rolls Out INR 3 Platform Fee

Inc42 · 1y ago

Flipkart Rolls Out INR 3 Platform Fee

Flipkart has implemented a platform fee of INR 5 for its quick commerce service, Flipkart Minutes. This fee brings Flipkart in line with other similar quick commerce players like Swiggy's Instamart and Zomato's Blinkit. However, the fee does not apply to Flipkart Grocery or Cleartrip, the company's travel vertical.

Cleartrip nearly doubles revenue in FY24 as losses widen

YourStory

YourStory · 10m ago

Cleartrip nearly doubles revenue in FY24 as losses widen

Cleartrip, a travel aggregator platform owned by Flipkart, reported a significant increase in operating revenue for the fiscal year 2024. Revenue from operations nearly doubled to INR 97.2 crore, although higher expenses led to a wider loss of INR 809 crore. Cleartrip's services generated INR 369 crore, along with INR 240 crore in commissions and incentives. The platform was acquired by Flipkart in April 2021 and continues to operate as a separate brand.

OPEN Spent INR 195 Cr To Earn INR 25 Cr Revenue In FY24

Inc42 · 1y ago

OPEN Spent INR 195 Cr To Earn INR 25 Cr Revenue In FY24

Indian startup OPEN, backed by Temasek, saw a 30% decrease in net loss for FY24, down to INR 170 Cr. The total expenditure also dropped 34% to INR 194.6 Cr. However, OPEN spent INR 7.84 for every rupee earned from operations in FY24.

Cloudy skies for Cleartrip: revenues jump 69%, but losses are substantial - The Economic Times

Economic Times

Economic Times · 14d ago

Cloudy skies for Cleartrip: revenues jump 69%, but losses are substantial - The Economic Times

Cleartrip, an online travel platform owned by Flipkart, reported a 69% rise in operating revenue to Rs 169 crore in FY25. Despite this growth, the company faced a substantial net loss of Rs 651 crore, although it was lower than the previous year's loss of Rs 810 crore. High expenses, including employee benefits and finance costs, contributed to its financial challenges. Discounts and cashbacks further weighed down overall income, affecting financial performance.

Cleartrip’s CFO Aditya Agarwal Quits; Akshat Mishra To Lead Business Finance

Inc42 · 1y ago

Cleartrip’s CFO Aditya Agarwal Quits; Akshat Mishra To Lead Business Finance

Cleartrip's Chief Financial Officer (CFO), Aditya Agarwal, is stepping down due to personal reasons. Akshat Mishra will take over as the new head of Business Finance. Agarwal played a key role in shaping Cleartrip's financial strategy and organizational growth, including its merger and integration into the Flipkart Group, where he will remain for a few months to ensure a smooth transition. Mishra, with two years of experience within Cleartrip and eight years within Flipkart, reflects the company's commitment to nurturing internal talent. Cleartrip reported a net loss of INR 676.5 Cr in FY23.

Flipkart-owned Cleartrip's loss nearly doubles in FY23; income falls 17%

Economic Times

Economic Times · 1y ago

Flipkart-owned Cleartrip's loss nearly doubles in FY23; income falls 17%

Online travel company Cleartrip reported a nearly doubling of its total loss for the fiscal year ended March 31, reaching Rs 676.6 crore, alongside a 17% decline in income. The Flipkart-owned company's total expenses grew by 63% to Rs 773.3 crore, with employee benefit expenses nearly tripling. Cleartrip has become an integral part of Flipkart's offerings since its acquisition in early 2021. The company is implementing new tech initiatives across its businesses, including Cleartrip.

Flipkart may trim roles by up to 7% in yearly refocus

Economic Times

Economic Times · 1y ago

Flipkart may trim roles by up to 7% in yearly refocus

Ecommerce giant Flipkart, owned by Walmart, is reportedly planning a workforce reduction of 5-7% as part of its annual performance reviews. The company has been implementing performance-based job reductions for the past two years and has also frozen fresh hiring to control costs. Flipkart, which currently has 22,000 employees, is reassessing its existing and new lines of business and is investing further in its hotels business through its acquisition of Cleartrip. The restructuring and roadmap for 2024 will be discussed and finalized next month.

Flipkart Internet reports Rs 20,493 Cr revenue in FY25; losses down 37%

Entrackr

Entrackr · 18d ago

Flipkart Internet reports Rs 20,493 Cr revenue in FY25; losses down 37%

Flipkart Internet reports Rs 20,493 Cr revenue in FY25; losses down 37% Flipkart Internet, the B2B arm of Walmart-owned Flipkart, reported a 14% year-on-year rise in revenue, crossing the Rs 20,000 crore mark in the fiscal year ending March 2025. The Bengaluru-based firm also reduced its losses by 37%, bringing them below Rs 1,500 crore during the same period. Flipkart Internet’s revenue from operations increased to Rs 20,493 crore in FY25, from Rs 17,907 crore in FY24, as per its consolidated financial statements filed with the Registrar of Companies (RoC). Flipkart’s revenue is driven by marketplace, logistics, and advertising services. Income from marketplace services more than doubled to Rs 7,751 crore in FY25 from Rs 3,734 crore in FY24, contributing 38% to operating revenue. Advertising income surged 27% to Rs 6,317 crore, making up 31% of the topline. However, revenue from logistics services declined by 38% to Rs 4,224 crore, reducing its share to 21%. The firm made an additional Rs 314 crore from non-operating sources, which pushed its total revenue to Rs 20,807 crore in the last fiscal year (FY25). On the cost side, the largest cost head remained logistics service charges, which increased 9% to Rs 7,144 crore, accounting for 32% of total expenses. Employee benefit expenses declined 8% to Rs 4,748 crore, while marketing costs rose sharply by 37% to Rs 4,100 crore, making up 18% of overall costs. Collection charges stood at Rs 2,693 crore (12.1% of expenses) and legal/professional fees at Rs 1,394 crore. Overall, Flipkart Internet’s total expenses grew 8% to Rs 22,311 crore in FY25 from Rs 20,627 crore in FY24. Flipkart Internet managed to cut its losses by 37% to Rs 1,494 crore in FY25, from Rs 2,359 crore in FY24. Its EBITDA losses narrowed to Rs 1,078 crore in FY25 from Rs 1,869 crore in FY24, with the EBITDA margin improving from -10.25% to -5.18%. On a unit level, Flipkart spent Rs 1.09 to earn a rupee in FY25, better than Rs 1.15 in FY24. The company’s current assets stood at Rs 11,952 crore, while cash and bank balances rose to Rs 187 crore.

Flipkart-Owned Cleartrip Enters Corporate Travel Space With Out Of Office Launch

Inc42 · 1y ago

Flipkart-Owned Cleartrip Enters Corporate Travel Space With Out Of Office Launch

Cleartrip, the online travel aggregator owned by Flipkart, has launched a new product called "Out of Office" (OOO), marking its entry into the corporate travel sector. OOO is a corporate travel booking tool designed for small, medium, and large enterprises. It aims to provide an end-to-end travel experience, user-friendly interface, policy adherence, and cost-effectiveness. Cleartrip claims to handle a monthly business volume of INR 20 Cr and has 300 SMEs and 10 large corporations as active users. The platform's early adopters include The Federal Bank, Sify Technologies, MGM Healthcare, Sterlite Power Transmission Ltd, and ACC Limited.

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