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Aircraft lessors to get protection from defaulting airlines Trends point to a hung assembly Smartphone prices may change Renault revving up small car launch Capital Notes Hunt for new finance secretary on... Kolkata kisses goodbye to Ambi? Excise duty may halt the war in SUV market Hyundai Grand i10 awaiting launch Plans to double trade with Latin America Carlyle invests in Trehanís Medanta Medical Centre While MoTown is on a tailspin, the telecom sector is staging a rally Urja Sangam in Delhi SpiceJet in the news again LANCO opens negotiations with buyers for Karnataka power plant Jet-Etihad Rs 2000 plus crore deal to be cleared Fox Star Studios to tie-up with Bolly-wood and Kollywood German envoy Steiner caps a language row Vodafone slapped with tax notice of Rs 3700 crore GMR to raise US $ 250 mn thru QIP Vodafone to buy out minority shareholders Singapore Airlines prefers Airbus ONGC to draw down on reserves to meet CAPEX needs Canada screams over IT outsourcing to India TCS, Indiaís biggest block buster Airlines hit by service tax on lease Latin America beckons India for investments TVS bullish on the two wheeler market? Flipkart India in the red by Rs 280 crore How important is Modiís German visit... Infosys not to cut prices Lanco to sell Australian acquisition Wal-Mart studying FDI norms post split with Bharti Automobile sector in slump...
 
Flipkart India in the red by Rs 280 crore

India’s most popular and durable online buying portal, Flipkart  India, has reported a loss of Rs 280 crore plus ending March this year. It’s much bigger than its loss of Rs 100 crore plus last year. Revenues actually soared five times to over Rs 1180 crore from a mere Rs 204 crore in the previous year, but expenses jumped equally five’fold to Rs 1336 crore from Rs 265 crore last year. Its cash balance dropped to Rs 166 crore or so on 31 March from Rs 236 crore a year ago. Deeper losses coupled with soaring sales are Flipkart’s new strategy of a winner takes all approach that aims at revenue growth at any cost to garner market share. It’s actually following the US portal Amazon.com’s model. To finance its expenses it has raised 550 million USD in the last five years which includes 360 million USD this year alone.

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