Home / Knowledge / News / Textiles / Flipkart India losses reduce to ₹244.7 crore in FY17
Flipkart India losses reduce to ₹244.7 crore in FY17
18
May '18
Flipkart India losses reduce to ₹244.7 crore in FY17
The losses of Flipkart India, the wholesale arm of the e-commerce giant, have been reduced half to ₹244.7 crore in the fiscal 2016-17 from ₹544.5 crore in the last year, a news agency said citing documents submitted to the Corporate Affairs Ministry. For the reported period, there was an 18 per cent surge in the revenues to ₹15,569.2 crore.

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


Must ReadView All

'Knitting machines can be used for various applications'

Textiles | On 21st Aug 2018

'Knitting machines can be used for various applications'

Flat knitting machines have the potential of being used for a number...

Courtesy: Invista

Textiles | On 21st Aug 2018

Fujian Petrochemicals to use Invista's P8 PTA technology

Invista’s technology and licensing group, Invista Performance...

Indian team finds way to cut water use in textile industry

Textiles | On 21st Aug 2018

Indian team finds way to cut water use in textile industry

Researchers at the department of chemistry in Calicut University in...

Interviews View All

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Carolin Russ

Weko, Weitmann & Konrad GmbH & Co KG, based in south Germany, is...

Abhishek Dhanuka

Vyom International Pvt Ltd, established in 2002, is one of Surat's leading ...

Tom Adeyoola

Describing itself as the best body shape and garment fit company in the...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Chandani Sahi
By Chandani

By Chandani is a womenswear prêt couture brand with fusion silhouettes by...

Rajesh Pratap Singh
Rajesh Pratap Singh

<div>Ace fashion designer <b>Rajesh Pratap Singh</b> has used Tencel to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


August 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search