Flipkart is an e-commerce firm that provides an online shopping platform with a wide range of products and services to its customers. The platform offering various products announced a 26.4 percent increase in its operational revenue to Rs 70,542 crore in FY24. The startup provides a digital platform to offer an online shopping experience. These sales of products and subscription services are the company’s primary source of revenue. The startup offers a seamless shopping experience using advanced technologies.
Entrackr mentioned in its report that the firm also earns income through commissions on referrals and advertisements. The startup data intelligence platform, crunchbase reported that the company has secured over 15.3 billion USD across multiple funding rounds since its inception, including 17 acquisitions.
The e-commerce firm also earns its income from non-operating activities which stood at Rs 302 crore in FY24. The company has a huge distribution channel and offers mobile, laptop, television, footwear, clothing, grocery, and more through its online platform. Flipkart also provides a mobile application to directly buy and order products.
The Bengaluru-based startup provides multi-category consumer products. The company’s product catalog includes fashion, beauty, healthcare, home care, books, pet supplies, and more. The online platform uses advanced technologies to offer personalized feeds and the best customer experience. The legal, business sourcing, marketing, hosting, and other expenses increased compared to the previous financial year.
The total expenditure of the firm increased by 23.3 percent and stood at Rs 75,038 crore in FY24. The cost of materials increased by 23.8 percent to Rs 73,624.2 crore in the same duration. Employee benefits increased and climbed to Rs 684.4 crore in FY24 while the logistic costs stood at Rs 299.9 crore in the same period.
The company aims to improve its platform and offer innovative solutions to position itself well in the global e-commerce market. The startup managed to control its losses by 13.2 percent to Rs 4,248 Crore this financial year through cost-cutting measures. The operating cash outflow increased by 77.4 percent and reached Rs 6,392.7 crore with a cumulative outstanding loss of Rs 26,407 crore. Flipkart faces competition from other online services offering e-commerce platforms such as Amazon, Myntra, and Meesho.
Conclusion :
E-commerce platform Flipkart announced a 26.4 percent increase in its revenue from operations to Rs 70,542 crore in FY24. This online shopping platform provides multi-category consumer products. The startup offers products in several categories such as fashion, beauty, healthcare, footwear, pet supplies, and more. The sale of these products to resellers, advertisement, and commissions on referrals are the firm’s primary sources of revenue. The loss also decreased by 13.2 percent to Rs 4,248 crore in FY24.
The total expenditure of the firm increased by 23.3 percent to Rs 75,038 crore in the same duration. The startup plans to minimize its losses by reducing operating and employee expenses. The company has secured over 15.3 billion USD across multiple funding rounds to date. Flipkart competes with Amazon and Meesho.
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