Flipkart burns $1.1 Bn worth cash in six months: Walmart
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Ecommerce major Flipkart has reportedly burnt $1.1 Bn in cash between February and July this year. “As of July 31, 2022, and January 31, 2022, cash and cash equivalents of $3.5 Bn and $4.3 Bn, respectively, may not be freely transferable to the U.S. due to local laws or other restrictions,” said Walmart in its quarterly report for the quarter ended July 31.