Flipkart Marketplace Arm’s Revenue Grew By 42% To Rs 14,845 Cr In FY23

Flipkart Internet, the marketplace arm of ecommerce major Flipkart has reported a Rs 14,845 crore growth in its operating revenue by 42 per cent for the financial year 2023. The company’s loss narrowed by 9 per cent to Rs 4,026 crore, according to a media report on Thursday.

The firm’s operating revenue in 2022 stood at Rs 10,477 crore incurring a total loss of Rs 4,419 crore.

The company’s earnings from logistical services offering grew by 50 per cent to Rs 5,789 crore in FY 2023. Subsequently, it earned another Rs 3,713 crore from offering marketplace services in FY2023, marking a 32 per cent of its higher leap from what it earned in FY2022. 

Flipkart Internet's advertising revenue was at Rs 3,324 crore in FY2023, up from Rs 2,083 crore a year earlier.

The company’s total expenses grew by 26 per cent on year to Rs 19,043 crore in FY 2023, while employee benefits expense stood at Rs 4,482 crore, up from Rs 3,735 crore a year earlier.

Furthermore, the company’s logistics spent was reported at Rs 6,571 crore in FY2023, up by 30 per cent from a year ago, while advertising and promotional expenses rose to Rs 2,407 crore from Rs 1,945 crore.

The ecommerce giant Flipkart runs its India business through various entities and Flipkart Internet is responsibly running its marketplace where the firm earns its revenue in the form of seller commissions, advertising income and other fees for seller services.