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    HomeNewsBusinessCompaniesFlipkart's logistics unit Ekart suffers Rs 810-crore loss

    Flipkart's logistics unit Ekart suffers Rs 810-crore loss

    The losses against a revenue of Rs 303 crore come in the first year of operations after the etailer spun off the unit into a separate entity,

    January 06, 2017 / 14:26 IST

    Moneycontrol BureauFlipkart’s logistics unit Instakart Services or Ekart Logistics suffered losses of Rs 810 crore in the nine months to March 2016. The losses against a revenue of Rs 303 crore come in the first year of operations after the etailer spun off the unit into a separate entity, Business Standard reported Friday quoting people privy to the development.

    The losses are in addition to the Rs 2,850 crore-loss posted by Flipkart India and Flipkart Internet in FY16. Ekart was incorporated in June 2015.

    Meanwhile, Ekart is looking to onboard third-party clients to stop bleeding. The company plans to drum up at least 50 percent business from third-party clients, a person close to the company told the paper.

    first published: Jan 6, 2017 08:49 am

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