Flipkart’s B2C arm, FirstCry post steep losses in FY23, revenues expand

India's tech companies, including Flipkart and FirstCry, continue to face significant losses. Flipkart Internet reported consolidated losses of Rs 4,026 crore in FY23, while Flipkart's B2B arm reported losses of Rs 4,897 crore. FirstCry's losses in FY23 reached Rs 486 crore, a sharp increase from Rs 78 crore in FY22. Despite the losses, both companies saw growth in revenue. Flipkart's revenue increased to Rs 14,845 crore in FY23, and FirstCry's revenues reached Rs 5,632 crore, a rise of nearly 135% year-on-year.

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