Flipkart’s marketplace arm sees revenue jump 21% in FY24

E-commerce giant Flipkart’s marketplace arm Flipkart Internet saw its revenue increase by close to 21% year on year in the 2024 financial year to total Rs 17,907.3 crore. This represents the second year in a row with over 20% growth for Flipkart Internet.

The 2024 financial year also saw Flipkart Internet reduce its losses by 41%, ET Tech reported. According to regulatory filings on business data platform Tofler, Flipkart Internet’s losses were at Rs 2,358 crore during the 2024 fiscal year.
 
Flipkart is owned by US based business Walmart and operates in the Indian market through a number of entities. Flipkart Internet runs its multi-brand marketplace and its main source of revenue is from seller commissions as well as other seller service fees and advertising income.
 
Flipkart Internet’s marketplace income totalled Rs 3,734.2 crore in the 2024 financial year. This represented slight growth compared to its total of Rs 3,713.2 crore for the 2033 fiscal.
 
The business’ income from collection services also increased during the financial year, totalling Rs 1,225.8 crore in the 2024 financial year compared to Rs 1,114.3 crore a year earlier. The business has previously announced that it is focusing on profitability and has restructured its organisation to streamline operations, ET Bureau reported.