Flipkart Group FY26: Revenue Nears ₹1.5 Lakh Cr, Loss Narrows To ₹8,468 Cr

Consolidated revenue is the money generated by a parent group and its included businesses together. Consolidated net loss is the group’s final loss after operating costs, finance costs, taxes and other items. These figures matter because they show the scale and overall financial outcome of the entire corporate group.

Flipkart Group’s FY26 consolidation included the ecommerce business alongside Myntra and Cleartrip. It also included logistics, platform services and other specialised operations. Therefore, the group reported ₹1.45 Lakh Cr of revenue and an ₹8,468 Cr net loss, rather than figures for only the main shopping marketplace.

The distinction is important because individual businesses can perform differently. Flipkart Internet Private Limited, the B2C arm, saw revenue fall 19.3% to ₹16,295 Cr and its net loss rise to ₹5,498 Cr. Group-level revenue still grew because the consolidated entity covers a broader set of operations.

Flipkart Group operated at enormous scale in FY26. Its consolidated revenue from operations reached ₹1.45 Lakh Cr, up from ₹1.23 Lakh Cr in FY25. Yet the group still reported a substantial consolidated net loss of ₹8,468 Cr. The figures cover the group, including businesses beyond the main marketplace.

Revenue increased 18.2% year on year. Total expenses also climbed, rising 16% to ₹1.54 Lakh Cr from ₹1.33 Lakh Cr. The biggest expense was purchases of traded goods, which rose 17.4% to ₹1.17 Lakh Cr. Logistics and storage charges increased 28.9% to ₹15,154 Cr.

Despite higher costs, the loss narrowed from ₹8,646 Cr by only 2.1%. Employee costs were broadly flat at ₹8,376 Cr, while finance costs nearly doubled to ₹1,209 Cr. The group’s scale expanded, but its final profitability improved only modestly.

Revenue growth does not automatically become profit. Flipkart Group’s costs also rose as its business expanded. Total expenses increased 16% to ₹1.54 Lakh Cr, while purchases of traded goods reached ₹1.17 Lakh Cr. Logistics and storage charges rose 28.9% to ₹15,154 Cr, adding further pressure.

The operating picture was better. Gross margins rose 23% year on year, adjusted EBITDA improved by around ₹1,500 Cr, and the adjusted operating margin improved from -7.7% to -5.4%. Adjusted operating business losses narrowed 17%, or about ₹1,600 Cr. These measures exclude several items below operating performance.

At the final profit line, higher finance costs, derecognition of deferred tax assets recognised earlier and certain exceptional items reduced the benefit. Finance costs nearly doubled to ₹1,209 Cr. Consequently, consolidated net loss fell only from ₹8,646 Cr to ₹8,468 Cr.

Flipkart Group and Flipkart Internet Private Limited are not the same reporting unit. The group’s consolidated results combine several businesses, while the B2C arm represents the ecommerce marketplace entity. This difference allows total group revenue to rise even when the B2C business contracts.

Flipkart Internet’s revenue from operations fell 19.3% to ₹16,295 Cr in FY26 from ₹20,202 Cr. Including other income, its total income declined 19.4% to ₹17,039 Cr. Its total expenses fell only 3.6%, to ₹22,522 Cr, so its net loss increased sharply to ₹5,498 Cr.

Meanwhile, the consolidated group reported revenue of ₹1.45 Lakh Cr, up 18.2%. The group includes Myntra, Cleartrip, logistics, platform services and other specialised operations. Their combined performance, alongside the B2C arm, explains how group revenue could grow while the marketplace’s own revenue fell.

A reverse flip is a restructuring in which a company shifts its holding structure back from an overseas jurisdiction to its home country. In Flipkart’s case, the group moved its holding structure from Singapore to India. The change affected the corporate structure, not simply day-to-day marketplace operations.

Flipkart, backed by Walmart, completed its reverse flip in March 2026. After the restructuring, the group began publishing consolidated financial results under Flipkart Internet Private Limited. Those results cover the year ended March 2026 and include the wider group’s businesses.

The article links the move to a possible domestic public listing. Returning the holding structure to India positioned the group ahead of that potential step. The published results provide a historical view of the business rather than a current trading update, so they describe the completed reporting period.

Ecommerce groups typically carry two large operating burdens: obtaining products for sale and fulfilling orders. Purchases of traded goods represent the products sold to customers. Logistics and storage cover activities needed to hold, move and deliver those products. Their size grows with merchandise volume and delivery activity.

Flipkart Group’s purchases of traded goods rose 17.4% to ₹1.17 Lakh Cr in FY26. Logistics and storage service charges increased 28.9% to ₹15,154 Cr. These were not minor expenses. Logistics and storage alone represented nearly 54% of the group’s ₹28,277 Cr in total other expenses.

The figures show why revenue growth can require heavy spending. A larger ecommerce operation needs more goods, warehousing and delivery capacity. Although the group’s revenue rose 18.2%, total expenses still climbed 16% to ₹1.54 Lakh Cr. Cost control therefore remains important for turning scale into profit.

In general, an ecommerce company makes money by selling goods or services and by earning income connected with its platform and operations. Its financial result depends on what remains after product costs, employee expenses, logistics, overheads, finance costs, taxes and exceptional items. Strong sales can therefore coexist with a loss.

Flipkart Group’s revenue rose 18.2% to ₹1.45 Lakh Cr. Its gross margins rose 23%, adjusted EBITDA improved by around ₹1,500 Cr, and adjusted operating margin improved from -7.7% to -5.4%. These signs show that the underlying operating position became less loss-making.

The final result was weaker because finance costs nearly doubled to ₹1,209 Cr. The group also derecognised deferred tax assets recognised in earlier periods and recorded certain exceptional items. Thus, operating improvement translated into only a 2.1% narrowing of net loss, to ₹8,468 Cr.