Walmart INC backed India's one of the leading e-commerce platforms, Flipkart's marketplace arm, Flipkart Internet, reported a 33 percent increase in its revenue from operations.

The regulatory filing of the firm claimed that in the March quarter of the financial year (FY) 2022, the firm recorded Rs 10,476 crore as operating revenue while Rs 4,361 crore as a net loss. Due to the rise in expenditures in multiple sections like delivery, advertisement, and promotions, the firm also witnessed an upswing of 1.5 per cent in net losses. 

Successful advertising campaigns led the Indian unit of Walmart INC in increasing its revenue to Rs 10,476 crore. The firm bagged a 50 per cent growth in revenues from the advertisement segment and contributed the most to Walmart INC’s advertisement revenues. However, the curve remained largely flat for the marketplace as revenue did not increase from Rs 2,823 crore. 

In order to expand the product ranges in the market and challenge multiple competitors like Amazon, Aijo, Meesho, and Tata Neu, Flipkart is keen on bagging $3 billion at a valuation of $40 billion. The firm may dilute 7 per cent equity in order to get the total amount. 

Regarding the competitors, Amazon, another leading player in the Indian ecommerce market, observed a 57 per cent growth, taking the revenues in logistics to Rs 3,848 crore. From advertising, the retail conglomerate earned a revenue of Rs 4,174.4 crore.