Flipkart Internet earns nearly Rs 5,000 cr in ad revenue in FY24

Flipkart Internet generated nearly Rs 5000 crore from advertising in 2023-2024, up from Rs 3324.7 crore, according to a report quoting business intelligence firm Tofler.

The marketplace arm of Flipkart reported revenue of Rs 17,907.3 crore for 2023-24, up nearly 21% year-on-year. Its losses reportedly fell 41% to Rs 2,358 crore.

With this, Flipkart Internet has marked its second consecutive year of more than 20% growth for the company with reduced losses.

The Walmart-owned company posted Rs 3734 crore as its marketplace fee income for the fiscal up from Rs 3713.2 crore in the previous financial year.

Income from collection services stood at Rs 1,225.8 crore from Rs 1114.3 crore. Its ad income has reportedly surpassed various market fees.

Flipkart’s revenue growth and reduced losses align with CEO Kalyan Krishnamurthy’s vision to focus on profitability. The company’s extensive organisational restructuring has also led to lower operating costs, playing a role in its profitability, said a report.

Flipkart's market arm earns primarily through seller commissions, ads and other fees for seller services.