NEW DELHI, India — Flipkart Group on Friday said Chief Financial Officer Sriram Venkataraman will step down after more than a decade with the company, as the e-commerce giant prepares for a planned initial public offering in India.
Venkataraman will remain in his role for the next few months to ensure a smooth transition, the company said, underscoring efforts to maintain stability in its financial operations during a critical phase.
In the interim, Ravi Iyer will oversee the broader finance function until a new CFO is appointed. Flipkart has not yet named a permanent successor.
The leadership change comes as the company advances IPO plans, a development closely watched by investors. Flipkart said its listing timeline remains on track despite the transition.
At the same time, the company has bolstered its leadership team with the appointment of Nishant Verman as Senior Vice President for Corporate Development and Partnerships.
The moves signal a broader reorganization of Flipkart’s leadership structure as it positions itself for the next phase of growth and entry into public markets.
Financially, Flipkart India Private Limited reported a wider consolidated loss of Rs 5,189 crore for the financial year ended March 2025 (FY25), compared with a net loss of Rs 4,248.3 crore in FY24, according to data from business intelligence platform Tofler.
The company’s consolidated revenue from operations rose 17.3% to Rs 82,787.3 crore in FY25, up from Rs 70,541.9 crore in FY24.
However, expenses increased at a similar pace, with total costs rising 17.4% to Rs 88,121.4 crore during the year.
The largest expense component remained the purchase of stock-in-trade, which climbed to Rs 87,737.8 crore in FY25 from Rs 74,271.2 crore a year earlier.
Finance costs also surged about 57% to Rs 454 crore, reflecting higher borrowing or funding expenses, according to the company’s financials. (Source: IANS)
