Flipkart India has reported a 9% jump in revenue for the financial year 2022-23 at Rs 56,013 crore.
The advertising expenses of the company have dropped by 35% from Rs 18.1 crore in FY22 to Rs 11.7 crore in FY23.
According to the report, accessed by Tofler, the company also reported a net loss of Rs 4,846 crore during the same fiscal, a 42% increase from the last financial year.
The company’s total expenses for the fiscal were reported as Rs 60,858 crore, up from Rs 54,580 in FY22.
The depreciation and amortization expenses declined from Rs 70 lakh in FY22 to Rs 30 lakh in FY23.
The company’s revenue from operations increased by 9.4 % from Rs 50,992 crore in FY22 to Rs 55,823 in FY23.
