Flipkart India Pvt. Ltd, the wholesale business of India’s largest online retailer Flipkart, reported a loss of Rs.281.7 crore in the year ended March, much wider than its loss of Rs.109.9 crore in the previous year, as it significantly raised spending to increase revenues. Revenue soared fivefold to more than Rs.1,180 crore from Rs.204.8 crore in the previous year, documents filed by the company with the Registrar of Companies show.
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Its strategy of acquiring market share at any cost is sited the reason behind this.
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