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