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.
According to estimates from business research and market intelligence firm PGA Labs, the ecommerce industry is estimated to be worth $60 billion by FY22 compared to $48 billion in FY21. “We expect retail ecommerce sales to climb a further 25%, to $75 billion in FY23, with growth in digital buyers,” Abhishek Maiti, Director–Competitive intelligence and consumer insights, PGA Labs, told ET in December.
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