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Parent company only condensed financial information (Tables)

12 Months Ended

Mar. 31, 2025

Condensed Financial Information Disclosure [Abstract]

Schedule of condensed balance sheet

Condensed Balance Sheets


		As of March 31,
		2024				2025
		RMB				RMB
		(in millions)
Cash and cash equivalents			1,114				618
Amounts due from subsidiaries			49,096				15,170
Prepayments and other assets			527				245
Interest in subsidiaries and VIEs			1,180,705				1,365,004
Total assets			1,231,442				1,381,037
Current unsecured senior notes			16,252				—
Amounts due to subsidiaries			110,867				184,879
Accrued and other liabilities			2,862				5,131
Non-current bank borrowings			28,828				22,937
Non-current unsecured senior notes			86,089				122,398
Non-current convertible unsecured senior notes			—				35,834
Total liabilities			244,898				371,179
Ordinary shares			1				1
Additional paid-in capital			397,999				381,379
Treasury shares, at cost			(27,684	)			(36,329	)
Statutory reserves			14,733				15,936
Accumulated other comprehensive income			3,598				3,393
Retained earnings			597,897				645,478
Total shareholders’ equity			986,544				1,009,858
Total liabilities and equity			1,231,442				1,381,037

Schedule of condensed statement of comprehensive Income

Condensed Statements of Comprehensive Income


		For the year ended March 31,
		2023				2024				2025
		RMB				RMB				RMB
		(in millions)
Total cost and expenses			(846	)			(327	)			(5,972	)
Income from subsidiaries and VIEs			84,000				86,057				142,604
Income from operations			83,154				85,730				136,632
Interest expense			(4,696	)			(5,415	)			(8,058	)
Other income and expenses			(5,949	)			(574	)			896
Net income			72,509				79,741				129,470
Other comprehensive income			23,379				14,340				498
Total comprehensive income			95,888				94,081				129,968

Schedule of condensed statement of cash flows

Condensed Statements of Cash Flows


		Year ended March 31,
		2023				2024				2025
		RMB				RMB				RMB
		(in millions)
Net cash provided by operating activities			71,885				93,308				51,728
Cash flows from investing activities:
(Advances to and investments in) Repayments from subsidiaries and VIEs, and others			(12,290	)			11,838				(54,809	)
Net cash (used in) provided by investing activities			(12,290	)			11,838				(54,809	)
Cash flows from financing activities:
Issuance of ordinary shares			11				843				10
Advances from subsidiaries			15,296				6,195				73,526
Repurchase of ordinary shares			(74,746	)			(88,745	)			(86,662	)
Dividend distribution			—				(17,946	)			(29,077	)
Repayment of unsecured senior notes			—				(5,013	)			(16,220	)
Repayment of bank borrowings			—				—				(6,067	)
Proceeds from unsecured senior notes, net of debt issuance cost			—				—				35,979
Proceeds from convertible unsecured senior notes, net of debt issuance cost			—				—				35,665
Payments for capped call transactions			—				—				(4,612	)
Net cash (used in) provided by financing activities			(59,439	)			(104,666	)			2,542
Effect of exchange rate changes on cash and cash equivalents			33				58				43
Increase (Decrease) in cash and cash equivalents			189				538				(496	)
Cash and cash equivalents at the beginning of the year			387				576				1,114
Cash and cash equivalents at the end of the year			576				1,114				618