Paytm, Flipkart , Swiggy incur huge losses
- IndiaGlitz, [Wednesday,November 14 2018]
They are five of India’s most funded Internet firms. They are huge. They are household names in much of metropolitan India. Yet Paytm, Flipkart, MakeMyTrip India, Swiggy, and Zomato have earned huge losses.
During the financial year ended March 2018, their combined losses were Rs 7,800 crore (or USD 1.08 billion).
Digital wallet Paytm and e-commerce site Paytm Mall have reported a loss of Rs 3,393 crore, a report says.
High focus on expanding their market share instead of controlling the costs is one of the major reasons for the outcome. For example, Flipkart is struggling because of its discount models that aim to stave off Amazon.