Flipkart India’s loss rises 9-fold amid growth at a fast clip2 min read . Updated: 29 Oct 2018, 06:44 AM IST
Although the results pertain to the period prior to the Flipkart-Walmart deal, it highlights the challenges Walmart will face in turning around Flipkart amid stiff competition from Amazon India
Bengaluru: Flipkart India Pvt. Ltd, the wholesale entity of the country’s largest online retailer owned by US-based Walmart Inc., had a tough 2017-18 with its net loss widening nine-fold, although the company managed to grow its business at a fast pace. The marketplace arm, Flipkart Internet Pvt. Ltd, however reported narrower losses and a significant pickup in growth, according to regulatory documents sourced from Tofler and Paper.VC.
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