India’s e commerce companies will have a tough time raising funds in 2017, as they post huge losses and consumer spending shrinks on the back of demonetisation.Companies such as Flipkart, Paytm, Pepperfry and others have posted huge losses in 2016 Replica Hermes Belt, indicating a mad rush among online majors to achieve volume based growth on discounting rather than sustainable profitability.It seems that the companies are virtually buying customers by offering huge discounts to them without any regards to business profitability.Filings with Ministry of Corporate Affairs indicate that despite VC firms tightening purses Replica Bags, online companies have not reduced expenses.Here’s a look at such how e commerce companies fared:Flipkart: Bangalore based e tailer has reported a loss of Rs 2,306 crore in the year that ended March 31, 2016, compared to Rs 1,096 crore loss in FY15. The company also reported a revenue of Rs 1,952 crore last fiscal compared to Rs 772.5 crore in FY15.Paytm: Losses for the e wallet firm rose three folds to Rs 1,534 crore in FY16 compared to a loss of Rs 372 crore in FY15.Pepperfry: India largest online furniture retailer Pepperfry losses widened from Rs 88 crore in FY15 to Rs 155 crore in the fiscal ended March 31, 2016, latest filings show. These losses came on the back of revenues Rs 98 crore, recorded for FY16.Quikr: Bangalore based online classifieds player Quikr losses increased to Rs 534 crore in the year ending March 2016 from Rs 446 crore in the year ago period.Zomato: The Gurgaon based food delivery startup posted a loss of Rs 492 crore in FY16 against a loss of Rs 136 crore in FY15.
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