India’s largest online retailer Flipkart Ltd reported a 68% jump in losses to Rs8,771 crore for the year ended March 2017 from the previous year, as the company continued to spend heavily to maintain its slender lead over arch-rival Amazon India.
Revenue at Flipkart, which also owns the fashion retailers Myntra and Jabong and the PhonePe payments platform, rose 29% to Rs19,854 crore, according to filings sourced by paper.vc from Singapore, where Flipkart is listed. The revenue growth slowed from the 50% it reported in the preceding year.
