BENGALURU: Flipkart Group saw its overall revenues increase by nearly a third in the previous fiscal while losses ballooned on the back of falling valuation. Revenues rose by 29% to Rs 19,854 crore in the financial year ending March 2017, according to the regulatory filings made by the online retailer's parent company in Singapore.The company's losses increased by 68% to Rs 8,771 crore, according to documents sourced from data intelligence platform Paper.VC. This was primarily on account of a five-fold increase in finance costs to Rs 4,308 crore, driven by a fall in valuation. For instance, cost of talent — including salaries and stockbased compensation — went up only by 9% to Rs 2,052 crore in FY17, as compared with a 124% spike in FY16. Within ecommerce, they have to grow high-margin verticals like fashion through Myntra.They may need to get into other highmargin verticals like jewellery.

Source: Economic Times February 02, 2018 18:41 UTC