Flipkart's marketplace division reports 21% revenue growth, reducing losses by 41% in FY24.

Flipkart's marketplace division, Flipkart Internet, reported a 21% revenue growth to Rs 17,907 crore in FY24, while cutting losses by 41% to Rs 2,358 crore. This marks the second consecutive year of over 20% growth and reduced losses, attributed to a focus on profitability and organizational restructuring. In contrast, Amazon India saw only a 3% revenue increase to Rs 22,198 crore and a slight decline in losses. Flipkart has also ventured into quick commerce with its 'Minutes' service.

October 28, 2024
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