Flipkart FY17 loss widens 68% to $1.3b, revenue up 29%

Photo: REUTERS/Abhishek N. Chinnappa

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.

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