Walmart India FY22 loss widens to Rs 299 Cr; revenue up 7% to Rs 5,350 Cr
Walmart India, in which Flipkart acquired 100% interest in July 2020, had reported a net loss of Rs 200.80 crore in FY21.
Walmart India Pvt Ltd, which operates Best Price wholesale stores, has witnessed its loss widening to Rs 299.01 crore in FY22 despite its revenue from operations going up, according to financial data accessed by business intelligence platform Tofler.
Walmart India, in which Flipkart acquired 100% interest in July 2020, had reported a net loss of Rs 200.80 crore in FY21.
The company's revenue in FY22 grew 6.9% to Rs 5,349.98 crore, compared to Rs 5,004.88 crore for the financial year ended on March 31, 2021.
Its total income also went up 6.40% to Rs 5,361.72 crore for the financial year that ended on March 31, 2022. It was Rs 5,038.75 crore in FY21.
Walmart India's revenue from other income was at Rs 11.73 crore in FY22. Its total expenses in FY22 were at Rs 5,660.74 crore, up 8.03% compared to the previous year.
Flipkart Wholesale stores sell personal care products, home care appliances, and laundry utilities, besides staples, spices, and snacks to kirana stores, hotels, restaurants and caterers (HoReCa), institutions, and MSMEs.
As per the information available on its website, Walmart India currently operates 29 Best Price Flipkart Wholesale stores and two fulfilment centres in nine Indian states.
Best Price Flipkart Wholesale is a business-to-business (B2B), cash-and-carry wholesale format, owned and operated by Walmart India Pvt Ltd.
Flipkart Group is one of India's digital commerce leaders and includes group companies Flipkart, Flipkart Wholesale, and Myntra. It was acquired by US retail giant Walmart in May 2018 in a $16-billion deal.
Edited by Suman Singh