Flipkart India, the B2B arm of Walmart-owned has registered a loss of Rs 3,836.8 crore during 2018-19 as compared to the previous financial year, as per the report.
The unit had posted a loss of Rs 2,063.8 crore for the financial year ended March 31, 2018, documents filed by Flipkart India to the corporate affairs ministry showed.
Flipkart India's revenue from operations, however, saw a 42.82 per cent jump to Rs 30,931 crore in 2018-19 from Rs 21,657.7 crore in the previous financial year, it added.
Flipkart India Pvt Ltd is engaged in business of wholesale distribution of mobile, television, laptop, tablet, mobile accessory, footwear, clothing, etc, on business-to-business (B2B) basis.
In August last year, US-based retail giant Walmart Inc had acquired controlling stake in Flipkart's holding company. Under the deal, Walmart had picked up about 77 per cent stake for about USD 16 billion, giving handsome returns to investors like SoftBank that had sold their shares. This is a significant positive development for the company and companies in the Flipkart Group.
