Flipkart Internet’s operational revenue was Rs 7,840 crore, while its losses increased by 49% to Rs 2,881 crore. Flipkart India saw an increase of 25% in revenue from operations at Rs 42,941 crore, while losses reduced 22% to Rs 2,445 crore, the filings showed.
Ecommerce major Flipkart’s parent company is registered in Singapore and it operates in India through a number of units. Flipkart Internet generates revenue through various fees such as marketplace, payment gateway, shipping and other services. Flipkart also has other units for payments and logistics in India.
Flipkart Internet generated over Rs 2,794 crore in revenue from marketplace services to sellers while the second biggest chunk came from logistics services at over Rs 2,445 crore. Interestingly, the advertising business generated about Rs 1,385.7 crore in revenue in FY21 compared with Rs 1,008.8 crore in FY20—a jump of more than 37%. The rest of the revenue from operations came from services such as collection, storage and others.
The marketplace’s total expenses rose to Rs 10,996.3 crore crore in FY21 from Rs 8,254.3 crore a year ago. Among its major expenses, employee benefits stood at Rs 3,163.4 crore compared with Rs 2,602.7 crore in the year earlier. It spent Rs 1,073.4 crore on advertising and promotions in FY21 compared with Rs 1,114.6 crore in FY20—a drop of around 4%.
For Flipkart India, of its total operational revenue, Rs 42,939.8 crore came from the sale of products while during the same period it spent Rs 47,629.9 crore on purchase of stocks (goods) during FY21 compared with Rs 37,636.7 crore in FY20, the filings showed.
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The latest financials of Flipkart come at a time when its Singapore parent is mulling a potential IPO by calendar year 2022 or FY23, as reported by ET in September last year. ET reported Tuesday on the company’s plans to scale up verticals like grocery and hyperlocal deliveries along with its value-focused platform Shopsy in an interview with Flipkart Group CEO Kalyan Krishnamurthy.
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