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Flipkart: All Round Growth
Walmart-owned Flipkart has made it to the Most Respected Companies (MRC) top-20 list for the second straight year helped by a trustworthy leadership and impressive financial performance
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Riding high on the back of record revenue generated during the one-month festive period, Flipkart India reported an 18 per cent jump in its revenue for FY2022 at Rs 51,176 crore.
According to a report by consulting firm Redseer, ecommerce retailers led by Amazon and Flipkart garnered sales worth Rs 76,000 crore during the one-month festival sale event — almost double the pre-pandemic figure of Rs 40,000 crore in 2019. This amounted to about 25 per cent growth compared to the festive sale month of CY2021.
As per the Redseer report, festive sales were driven by Tier-2 and Tier-3 cities, with 64 per cent online shoppers coming from these towns. The report said that about 125 million shoppers placed orders across platforms during the festive month, aided by Tier-2 and Tier-3 cities.
Among the categories, fashion contributed largely to the growth, especially in Tier-2 markets, mainly driven by unbranded fashion.
Revenue Vs Expenses
Despite an increase in the company's expenses, Flipkart India's revenue for FY2022 exceeded Rs 50,000 crore, as per media reports citing financial data filed with the Registrar of Companies. The company's total expenses for the fiscal year were reported at Rs 54,580 crore, which was about 19 per cent higher than the previous year. This increase was mainly due to higher expenses related to employee benefits, inventory costs, finance costs, and depreciation.
In particular, the expenses on employee benefits rose to Rs 627 crore compared to Rs 385 crore the previous year, while the finance cost increased to Rs 141 crore compared to Rs 81.7 crore the previous year.
Other expenses were reported at Rs 532 crore compared to Rs 296 crore in the preceding year.
Big B2B Business
Flipkart India's primary source of revenue is derived from the sale of goods via its business-to-business ecommerce marketplace to kiranas throughout India. In addition to this, the company also generates revenue by offering its business-to-business ecommerce marketplace services to vendors. Flipkart India operates under the umbrella of Flipkart Group that includes various other entities.