Flipkart’s logistics arm Ekart posts 5x jump in losses, 5% revenue drop in FY24

Flipkart’s logistics arm Ekart Logistics has reported a 5 per cent drop in revenues while losses have widened by 5x for the financial year 2023-24 from the previous fiscal. According to the regulatory documents sourced from business intelligence platform Tofler, revenue from operations for Instakart Services, which runs Ekart Logistics, declined to Rs 12,115 crore in FY24 from Rs 12,787 crore in FY23 and total income narrowed by 4.3 per cent to Rs 12,431 crore from Rs 13,001 crore.