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Updated on: Thursday, May 30, 2019, 06:31 PM IST

Snapdeal loss widens to Rs 4,647 crore

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New Delhi : E-commerce firm Snapdeal saw its losses mounting to Rs 4,647 crore for the fiscal ending March 2017, impacted by a provision for “impairment of goodwill” of Rs 1,797 crore.

According to regulatory filing to the corporate affairs ministry by Jasper Infotech, which runs Snapdeal, had registered a net loss of Rs 3,340 crore in 2015-16.

The company’s total income also declined by 12.6 per cent to Rs 1,291.3 crore in FY2017 from Rs 1,478.2 crore in the previous year.

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When contacted, Snapdeal spokesperson said the financial statement for the year 2016-17 “reflects the first stage of Snapdeal’s focus on unit economics and business efficiencies”.

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Published on: Monday, April 30, 2018, 12:18 AM IST
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