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