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Flipkart Lost Rs. 15 Crore Per Day Last Year
It’s common knowledge that Indian e-commerce companies are currently bleeding money, but it’s hard to appreciate how much money they’re really losing. Two of Flipkart’s largest arms, which run the company’s marketplace and wholesale business, together lost Rs. 5,459 crore during FY 19. This translated into an astonishing loss of Rs. 15 crore per day for the Walmart-owned company. The losses rose 69 percent over the last year, while revenues rose only 44 percent. These are...