Flipkart Private Limited -- which includes the eponymous e-commerce platform, payments app Phone-Pe, fashion platforms Myntra and Jabong, and logistics and wholesale businesses -- has recorded a revenue of Rs 43,000 crore in FY19, the first fiscal year after the acquisition by Walmart.

Compared to the previous year, the group's revenue has gone up by 40-percent, according to filings sourced from business intelligence platform Paper.vc. CNBC-TV18 has reached out to Flipkart for a comment, but is yet to receive a response. To discuss the financial performance of the company, Startup Street spoke with Vivek Durai, co-founder of Paper.vc.

Durai pointed out that the finance cost item was a line that most people did not notice when the company filed its last year's financials. Flipkart filed FY18 financials quite late, in February this year, and one of the largest line items in their expenses was the finance cost attributed to the redemption part of the convertible securities that had been issued from Flipkart's Series B round onwards up till the acquisition by Walmart.

"That was a huge finance cost, that was around Rs 40,000 crore. So, that line item won't show up in this year's financials simply because those convertibles were all converted at the time of acquisition into equity shares. So, that liability has not been carried over and as a result of which you see the steep drop in expenditure," he stated.

The group's losses dropped 63 percent to Rs 17,000 crore. Expenses also declined, driven by a sharp drop in finance costs which fell from Rs 41,000 crore to Rs 4,300 crore.