Walmart-owned Flipkart Group narrowed its consolidated net loss to Rs 8,468 crore in the financial year ended March 2026, down 2% from Rs 8,646 crore a year earlier. Operating revenue rose 18% to Rs 1,45,880 crore from Rs 1,23,451 crore in FY25, according to financial statements sourced from the Registrar of Companies (RoC).
This marks the first time the Flipkart Group has reported its consolidated financial results under Flipkart Internet Private Limited. The combined entity includes Flipkart, Instacart, Myntra, Cleartrip, eKart, Flipkart Minutes, Flipkart Health+ and Pinkvilla, among others.
The consolidation follows Flipkart’s reverse flip to India in March this year ahead of a potential initial public offering (IPO).
How Flipkart makes money
Sales of traded goods: This is Flipkart’s core revenue channel. Sales of traded goods brought in Rs 1,04,850 crore in FY26, up 13% from Rs 92,957 crore a year earlier.
Traded goods are finished products Flipkart buys in bulk from manufacturers and suppliers and sells them directly to third-party sellers.
Revenue from marketplace services: Marketplace revenue comes primarily from commissions in the form of transaction fees paid by sellers listed on Flipkart’s marketplace platforms. The commission fee or referral fee is calculated as a percentage of the selling price, and varies by product category.
Revenue from collection services: Flipkart also levies a collection fee (payment processing fee) on merchants for handling customer payments. The fee varies based on the payment mode chosen by the customer (Prepaid vs. Cash on Delivery vs. EMI).
Revenue from marketplace and collection services crashed 44% to Rs 6,719 crore in FY26 from Rs 11,967 crore a year earlier.
The dip comes after Flipkart introduced zero commission on products priced below Rs 1,000 across categories last year. The zero-commission model has since been expanded to all fashion products, regardless of the price point. For all other categories, seller commissions range between 3% and 25%, according to some estimates.
Logistics, warehousing and shipping revenue: Revenue from products stocked in Flipkart’s warehouses and shipped directly to consumers once the order is placed.
Revenue from this vertical jumped 31% to Rs 23,059 crore in FY26, compared to Rs 9,580 crore in the previous fiscal year.
Revenue from advertising services: Surged 31% to Rs 9,597 crore from Rs 7,343 crore in FY25. This income comes from the following:
(i) number of clicks—generated each time users on the platforms click through an advertisement to an advertiser’s designated website, or
(ii) impressions, representing the number of times an advertisement appears on pages viewed by users, or
(iii) completion of per-day billing during sale events.
Revenue from air ticketing and hotel bookings: This includes service charges for facilitating air ticket bookings and hotel bookings, recognised on an agent basis net of customer discounts. The Group also receives commissions from suppliers (including airlines, hotels, and travel aggregators) for facilitating bookings, recognised as an agent on a net commission basis.
Revenue from repair services: Revenue from the repair of mobile phones and tablets.
Other operating revenue: Comprises majorly co-branded card fees, discount on electronic gift vouchers (EGV), subvention fee recoveries, and commission income. This revenue line item rose to Rs 1,655 crore, up 3% from Rs 1,604 crore in FY25.
Note that Flipkart has been diversifying and looking at new areas of growth. Most recently, it entered the microdrama market in partnership with Pratilipi and Terribly Tiny Tales.
Additionally, Flipkart is reportedly piloting a food delivery service in some pockets of Bengaluru. Some reports suggested Flipkart was also looking to enter the live events and ticketing market to take on BookMyShow and Eternal’s District.
A look at Flipkart’s acquisitions in FY26
The financial disclosure comes days after Flipkart acquired a minority stake in TravClan, aiming to strengthen its international travel offerings across Cleartrip and Flipkart Travel.
With the investment, Flipkart gains access to TravClan’s B2B travel tech platform, global supplier network, and destination capabilities, including on-ground assistance for travellers. This will allow the company to offer a wider range of travel products through its main e-commerce app.
Regulatory filings showed that Flipkart also made several other notable investments during FY26.
- It acquired a 3.45% stake in Boggletree Technologies, which offers end-to-end cross-border logistics, supply chain management and international shipping solutions
- Picked up 5.01% shares of Visa 2 Fly, which streamlines and automates the international visa application process.
- Bought a 2.68% stake in Bharatkrushi Seva, which is building an end-to-end supply chain for fruits.
Besides, Flipkart also exited several businesses during the year under review.
The Group said it disposed of its entire stake in Rightbot, an AI-driven robotics company acquired by Amazon in January 2026; NimbleBox.ai, a machine learning operations and genAI startup; and Zinka Logistics Solutions, which operates the trucking platform BlackBuck.
Further, the company divested its entire investment in Aditya Birla Fashion and Retail following the demerger of its lifestyle business into Aditya Birla Lifestyle Brands.
Moreover, Shadowfax is no longer an associate of the Flipkart Group, effective January 2026.
Where did Flipkart spend?
Total expenses edged up to Rs 1,54,781 crore during the year ended March 2026, up 16% from Rs 1,33,400 crore in FY25.
- Cost of materials: This was the largest cost center for the company, accounting for nearly 74.4% of total expenses. Spending within this bracket increased 17% to Rs 1,15,118 crore in FY26 from Rs 98,362 crore a year earlier.
- Logistics & storage service charges: Jumped 29% to Rs 15,154 crore, compared to Rs 11,759 crore in FY25.
- Employee benefit expenses: Increased marginally to Rs 8,376 crore, including Rs 2,922 crore in ESOP costs.
- Advertisement and business promotion expenses: Rose nearly 5% to Rs 4,941 crore from Rs 4,720 crore.
Also read:
- What the TravClan deal means for Flipkart
- Flipkart plans ticketing entry, food delivery pilot in May ahead of IPO
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