New Delhi, March 20: Leading e-commerce giant Flipkart announced on Friday that its Chief Financial Officer (CFO) Shriram Venkataraman will resign after more than a decade with the company.
However, Venkataraman will not leave immediately; he will remain in his role for the next few months to ensure a smooth transition.
The company stated that this decision was made to maintain financial stability at a crucial time. Ravi Ayyar will take over the responsibilities of the finance department on an interim basis until a new CFO is appointed.
This change comes as Flipkart prepares to launch its IPO in India. Leadership changes are closely monitored by investors during such times, but the company has assured that its listing plans are progressing as scheduled.
In the meantime, Flipkart has strengthened its leadership team by appointing Nishant Verma as Senior Vice President for Corporate Development and Partnerships.
These recent changes indicate that the company is restructuring its management to prepare for the next phase of growth.
As Flipkart gears up for its IPO, it is making necessary adjustments to ensure it is fully prepared for the public market and future expansion.
Regarding financial performance, Flipkart India Private Limited reported a consolidated loss of ₹5,189 crore for the fiscal year ending March 2025. According to data shared by business intelligence platform Toffler, the company’s net loss for the previous fiscal year (2024) was ₹4,248.3 crore.
Despite the losses, the company’s total revenue grew by 17.3%, reaching ₹82,787.3 crore, up from ₹70,541.9 crore the previous year.
During this period, expenses also increased at a similar rate, with total costs rising by 17.4% to ₹88,121.4 crore. The highest expenditure was on stock-in-trade purchases, which surged to ₹87,737.8 crore, compared to ₹74,271.2 crore the year before.
Additionally, the company’s finance costs saw a sharp increase of nearly 57%, reaching ₹454 crore.
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Arpit Soni has had a passion for journalism since the beginning. Now he has turned this hobby into his profession. Arpit, who is a resident of Udaipur, enjoys editing and writing news related to journalism. He has worked as a Senior Content Producer in several important roles at Bhaskar, Patrika, Pratahkal, Punjab Kesari, and Times. Arpit completed his schooling in Udaipur and Jaipur. He has been working in the media industry for more than 10 years, and his journey is still continuing. ✍️📚
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