Flipkart Wholesale sold goods worth Rs 34,170.5 crore, up by 11.8 percent in the financial year 2020 as compared to financial year 2019
Flipkart has recently opened up its B2B (Business-to-Business) marketplace Flipkart Wholesale to MSMEs (Micro, Small and Medium Enterprises) and small scale Kirana stores in a move to scale up and gain access to a larger consumer base across India. The B2B arm of the Indian e-commerce giant did steady business during the financial year 2019-2020. It sold goods worth Rs 34,170.5 crore in FY20, up by 11.8 percent as compared to sales of Rs 30,571.2 crore it achieved during FY19. This is according to reports by entrackr.
The company recorded another Rs 439.6 crore in non-operating income, which includes interest and gain from financial instruments. Such collections also jumped by 20.86 percent from Rs 363.7 core earned in FY19. The primary revenue of the B2B arm comes from the sale of goods to other e-tailers who in turn sell these goods on Flipkart's online marketplace.
The company held inventories worth Rs 2,963.6 crore at the end of March 2020. On average, it managed to replace the stock in less than a month during FY20.
Further, rent and warehousing costs went up by 33.2 percent to Rs 158.5 crore during FY20 from Rs 119 crore spent in FY19 as the company accommodated for increased scale of operations. It spent 25.5 percent more on employee-related costs as well which increased from Rs 246.2 crore in FY19 to Rs 309 crore during FY20.
Flipkart Wholesale's holding entity mostly handled advertisement and promotions expenditure and the B2B arms spent Rs 13.8 crore on such expenses, down by 27 percent from nearly Rs 19 crore spent in FY19.
Another Rs 55.1 crore was recorded as miscellaneous expenses, pushing the total expenditure incurred by the company in FY20 to Rs 37,760.4 crore. It recorded an 8.6 percent increase from Rs 34,770.2 crore in FY19.
The company spent Rs 1.1 to earn a single rupee of operating revenue and its net cash outflow from operations went down by 17.6 percent to Rs 3,125.6 crore in FY20 from outflows of Rs 3,791.9 crore in FY19.
Loss during FY20 went down by 22.3 percent to Rs 3,150.3 crore from Rs 3,853.3 crore in FY19 while EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) margin has improved by 320 BPS (Basis Points) to -8.9 percent in FY20 as compared to -12.1 percent in the previous fiscal.
Twitter brings on board the team behind video calling and screen-sharing social media app Squad
Nearly seven decades after exit, Tata Group seeks to board Air India yet again
England vs West Indies: Stuart Broad Takes 500 Test Wickets
England vs Pakistan: Six Pakistan Players, Including Mohammad Hafeez, To Join England Tour After Negative Coronavirus Test
contradash Showcases Catchy Melodies & Playful Rap Verses On New Single "cat out the bag" – Out Now On Interscope Records
Fly By Midnight and Shoffy Team Up For New Single & Music Video 'Caffeine'