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Wal-Mart India Pvt Ltd, which operates Best Price Flipkart 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.
Wal-Mart India, in which Flipkart acquired 100 per cent 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 per cent to Rs 5,349.98 crore as compared to Rs 5,004.88 crore for the financial year ended on March 31, 2021.
Its total income also went up 6.40 per cent 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.
Wal-Mart 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 per cent in comparison 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, Wal-Mart India currently operates 29 Best Price Flipkart Wholesale stores and 2 fulfilment centres in 9 states across India.
Best Price Flipkart Wholesale is a business-to-business, cash and carry wholesale format, owned and operated by Wal-Mart 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 USD 16-billion deal.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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