Flipkart India losses reduce to ₹244.7 crore in FY17

There was also a decline in the company's finance cost from ₹10.2 crore in 2015-16 to ₹10 crore in 2016-17. The expense for employee benefit was however reduced to ₹166.6 crore in 2016-17 fiscal, as mentioned in the document.

Recently, Flipkart had signed a deal with Walmart where it acquires around 77 per cent stake in the Indian e-commerce giant for $16 billion. The investment will help accelerate Flipkart’s customer-focused mission to transform commerce in India through technology. (RR)

Fibre2Fashion News Desk – India