New Delhi: The Flipkart Group on Friday announced that its Chief Financial Officer Sriram Venkataraman will step down after more than a decade with the company.
However, Venkataraman will not exit immediately and will continue in his role for the next few months to ensure a smooth transition.
This move is aimed at maintaining stability in the company’s financial operations during a crucial phase.
In the interim, Ravi Iyer will oversee the broader finance function until a new CFO is appointed. The company has not yet named a permanent successor.
The development has attracted attention as it comes just ahead of Flipkart’s planned IPO in India.
Leadership changes at such a stage are closely watched by investors, although the company has indicated that its listing plans remain on track.
At the same time, Flipkart has strengthened its leadership team by appointing Nishant Verman as Senior Vice President for Corporate Development and Partnerships.
The recent changes suggest that the company is reorganising its leadership structure as it prepares for its next phase of growth.
With the IPO plans in focus, Flipkart is making key adjustments to ensure it is ready for public markets and future expansion.
Meanwhile, in the financial year ending March 2025 (FY25), Flipkart India Private Limited reported a wider consolidated loss of Rs 5,189 crore loss.
According to data shared by business intelligence platform Tofler, the company posted Rs 4,248.3 crore net loss in the previous financial year (FY24).
Flipkart’s consolidated revenue from operations rose 17.3 per cent to Rs 82,787.3 crore in FY25, up from Rs 70,541.9 crore in FY24.
However, the company’s expenses also grew at almost the same pace. Total expenses jumped 17.4 per cent to Rs 88,121.4 crore during the year.
The biggest cost driver was the purchase of stock-in-trade, which surged to Rs 87,737.8 crore in FY25 from Rs 74,271.2 crore a year earlier.
Finance costs also rose sharply by about 57 per cent, reaching Rs 454 crore, as per its financials.
(IANS)
