Walmart India posts Rs 299 crore loss; Rs 5361 crore revenue, in FY 22

1 Nov 2022 , 09:19 AM

Despite increasing operational income, Wal-Mart India Pvt Ltd, which runs Best Price Flipkart wholesale outlets, saw its loss grow to Rs 299.01 crore in FY22, according to financial information accessed by business intelligence platform Tofler.

A net loss of Rs 200.80 crore was announced for Wal-Mart India in FY21. In FY22, the company’s revenue increased 6.9% to Rs5,349.98 crore from Rs5,004.88 crore in the fiscal year that ended on March 31, 2021.

The financial year that concluded on March 31, 2022 saw a 6.40 % increase in the company’s overall revenue, reaching Rs5,361.72 crore. In FY21, it was Rs5,038.75 crore. In FY22, Wal-Mart India’s revenue from other sources was Rs11.73 crore.  In FY22, it spent Rs5,660.74 crore in total, an increase of 8.03% from the year before.

In addition to providing essentials, spices, and snacks to kirana stores, hotels, restaurants, and caterers (HoReCa), institutions, and MSMEs, Flipkart Wholesale outlets also offer personal care items, home care equipment, and laundry supplies.

Wal-Mart India presently runs 29 Best Price Flipkart Wholesale locations and 2 fulfilment centers throughout 9 Indian states, according to information on its website. Best Cost Wal-Mart India Pvt Ltd owns and runs Flipkart Wholesale, a business-to-business, cash-and-carry wholesale platform.

One of India’s top players in digital commerce, the Flipkart Group consists of the group firms Flipkart, Flipkart Wholesale, and Myntra. In a USD 16 billion deal, it was acquired by US retail behemoth Walmart in May 2018.