Flipkart losses Rs 2,306 cr in FY16

India's largest e-commerce platform Flipkart has reported a loss of Rs.2,306cr in FY16 that ended by March 31, 2016. During FY15 it registered a loss of Rs.1096cr, now it is almost doubled. The prime reason for such huge loss is 'Amazon'. Earlier this year Amazon overtook Snapdeal, which is a number 2 e-commerce player after Flipkart. Amazon also increased its spending in order to close the gap between itself and Flipkart. Flipkart has made several structural changes to its organization. Top management reshuffled, but it still requires huge capital in order to stay in the game. During the October Diwali sales, Flipkart outperformed Amazon. It is believed that Flipkart's fashion units Myntra and Jabong helped to make higher earnings during Diwali