Fiscal Year | Pixr8 News

While Flipkart is still filling all legal documents and other details for the Walmart acquisition, Flipkart India, the wholesale arm of Flipkart, was able to cut down losses in FY17 by 55% when compared with FY16. According to filings at the Ministry of Corporate Affairs (MCA), Flipkart reported a net loss of $36 million (Rs 244 Cr) for FY17, which represents a 55% decline from the loss of the previous fiscal year that stood at $80.3 million (Rs 544.5 Cr). On the downside, the e-commerce giant’s total expenses increased significantly by 15%. For FY16, the total expenses of the company stood at $2 billion (Rs 13,722 Cr) compared to the $2.33 billion (Rs 15,813 Cr) in FY17. However, the e-tail business witnessed revenue growth of 19% in the fiscal year of 2017 with revenues standing at...

Reliance Industries released filings showing that it registered an all time high net profit for the fourth quarter, amounting to Rs 9,435 crores, thanks to advantageous outcomes in the refining and petrochemical business. The firm, which revealed its fourth quarter and fiscal year accounts, showed a 17.3% increase in profit compared to last year’s figure amounting to Rs 8,046 crores. The hike is primarily attributed to an increase in the start-up of petrochemicals projects and new understandings about refining and petrochemical products. Additional hikes were reported in the filings, such as a 21.8% increase in revenue to Rs 90,894 crore, exports increasing by 32.5% to Rs 51.295 crore in the fourth quarter, ending the fiscal year on March 31, 2018. Moreover, Network 18 Media and I...

Tag: Fiscal Year

Flipkart FY17 Revenue Growth Cuts Down Losses

Reliance Registers Positive Revenues Across Several Business Streams