Cleartrip reported a total income of Rs 96.7 crore in FY23, against Rs 117 crore in FY22, a decline of 17%, according to data from business intelligence firm Tofler.
At the same time, its total loss widened 90% from the Rs 356.5 crore it incurred in FY22.
Cleartrip’s total expenses ballooned 63% to Rs 773.3 crore in FY23, from Rs 473.5 crore a year ago. Employee benefit expenses nearly tripled to Rs 247.1 crore, from the Rs 90.2 crore incurred a year ago.
Flipkart acquired Cleartrip in early 2021. Over the last two-and-a-half years, the firm has become an integral part of Flipkart’s offerings, whether it is during festive season offensives or as part of new ventures such as the Flipkart VIP subscription service.
On September 28, ET had reported that Flipkart had merged key technology and product roles in Cleartrip and its e-pharmacy vertical Flipkart Health Plus with the core commerce team to streamline operations.
Discover the stories of your interest
Flipkart’s new tech initiatives, with projects such as shopping assistant, which uses generative AI and is named Flippi, are set to be implemented across the company’s businesses, including Cleartrip.
