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