Indian E-Commerce majors – Flipkart, Amazon and Snapdeal have reported a combined losses of about 11754 Crore this year which is almost double the annual budget of the Indian Space Research Organisation (ISRO). If the same amount was given to ISRO it would be able to launch about 24 ‘Mangalyaan’ missions to Mars.
Snapdeal recently posted a loss of Rs 2960 crore (2015-16). Add this to Flipkart’s Rs 5223 crore and Amazon’s Rs 3571 crore, and the combined colossal loss of Rs 11754 crore. The losses have almost got doubled when compared to the last year. The last year’s combined loss sheet of the three companies totaled Rs 6,031 crore.
The losses of the companies last year are Amazon: Rs 1,724 crore, Flipkart: Rs 2,979 crore, Snapdeal: Rs 1,328 crore. All the three players are competing each other to acquire the major market share. Advertising, discounts and salaries formed a bigger part of the spend.
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