PTI
New Delhi, November 10
E-commerce major Flipkart has burnt cash of $3.7 billion (about Rs 30,000 crore) in about a year ending September 2022, according to regulatory filings.
Flipkart had $1 billion in cash in July 2021, which came down to $887 million by September 2022.
The company, in July 2021, raised $3.6 billion (about Rs 29,000 crore), which has been completely exhausted, according to regulatory filings of Flipkart and Walmart.
It is the biggest cash burn in a year by any new-age company in the country, according to industry estimates.
(This story has not been checked by JK Mega and is auto-generated from other sources)