Flipkart's yearly cash burn rises to around $3.7 billion

By

Isabelle Crossley

Published
Nov 10, 2022

Flipkart has used cash reserves of $3.7 billion over the past 12 months ending in September 2022, having made a number of sizeable investments. In July, 2021, Flipkart had raised $3.6 billion and has used all of these funds, according to regulatory filings by Flipkart and parent company Walmart, the Press Trust of India reported. 

“As of July 31, 2022, and January 31, 2022, cash and cash equivalents of $3.5 billion and $4.3 billion, respectively, may not be freely transferrable to the US due to local laws or other restrictions,” wrote parent company Walmart in a regulatory filing, the Press Trust of India reported. 
 
“Of the $3.5 billion on July 31, 2022, approximately $1.1 billion can only be accessed through dividends or inter-company financing arrangements subject to the approval of the Flipkart minority shareholders; however, this cash is expected go be utilised by Flipkart,” wrote Walmart. 

Flipkart has made a number of investments in ventures including Shopsy, Flipkart Health+, ANS Commerce, and Cleartrip. The business has also invested in boosting its user experience interface and its live commerce features over the past 12 months, according to the business.