Corporate News
Snapdeal, Amazon, Flipkart report increase in losses, while operating revenues grow for some

Snapdeal’s net losses increased by a little over 43% year-on-year at Rs 270.2 crore in the year to March 31, 2020, the company’s filings with the RoC sourced from business intelligence platform Tofler showed. Even as expenses rose to Rs 1,168.3 crore in FY20 from Rs 1,087.6 crore in FY19, revenue from operations remained stagnant at Rs 813.9 crore during the year. Snapdeal said more than 27 million annual buyers and over 380,000 registered sellers transact on its platform. The company claims to have hosted more than 70 million unique monthly visitors during FY19-20.

News Source:- https://www.financialexpress.com/industry/snapdeal-net-losses-increase-by-43/2169691/