Flipkart financials: Before Walmart's takeover, E-Commerce giant narrowed losses by 30%, grew revenue by 48%. Full details here

E-commerce major Flipkart Internet has trimmed its consolidated losses to Rs 1,160.6 crore for the financial year ended March 2018, as per regulatory documents.

The Bengaluru headquartered company had registered a total loss of Rs 1,640.2 crore in the previous fiscal, according to the documents filed with the Ministry of Corporate Affairs.

Flipkart's revenue from operations was at Rs 2,790.2 crore for 2017-18 as against Rs 1,882.4 in the previous financial year, a growth of 48.2%, it added.

When contacted, Flipkart declined to comment. The takeover by Walmart was only approved in August 2018, so the results are from before that.

On a standalone basis, the total loss narrowed to Rs 1,157 crore, while revenue was higher at Rs 2,790.2 crore for 2017-18 as against the previous year.

Flipkart, which operates different entities for various functions, provides e-commerce and support services through Flipkart Internet. The revenue of Flipkart Internet is mainly generated from services like collection, marketplace, storage and logistics.

Earlier in the year, Flipkart inked a blockbuster deal with Walmart under which the American retailer picked up about 77% stake for about $16 billion. The deal gave a handsome return to investors like SoftBank who sold their complete stock in the company -- an estimated 20% stake -- and also allowed co-founder Sachin Bansal to exit, with his around 5.5% stake being valued at an estimated $1 billion. While Sachin Bansal has ended his long association with Flipkart, initially speaking of his intention to play video games, and, more recently, launching his own venture fund, the other Flipkart co-founder, Binny Bansal (not related to Sachin, apart from sharing the same hostel block at the Indian Institute of Technology Delhi) has remained with the company, taking on the role of Chairman and Group CEO, while Kalyan Krishnamurthy has remained CEO of Flipkart per se. eBay, which had acquired a billion-dollar-plus stake in Flipkart, also exited when Walmart bought in.

In India, Flipkart is locked in an intense battle with US-based e-tailing giant Amazon with both entities pumping in millions of dollars towards promotions, building infrastructure and logistics as they woo customers to shop online. 

Studies indicate the Indian e-commerce market is set to cross $200 billion over the next few years.