Walmart India achieved a revenue of Rs 5,200 crore for the fiscal year ending March 2024, marking a 4% growth over the previous year. Operating 28 B2B Modern Wholesale Stores under the “Best Price” brand, the company notably reduced its financial losses by 68% during this period.
According to Walmart India’s financial disclosures submitted to the Registrar of Companies (RoC), the revenue rose from Rs 5,006 crore in FY23 to Rs 5,200 crore in FY24. This income was driven by wholesale trading, covering both food and non-food product segments. Additionally, Walmart India saw a 37% increase in other income, reaching Rs 5.42 crore, largely from gains on financial instruments and interest earnings from bank deposits.
The company’s primary cost was stock-in-trade purchases, which climbed by 5.7% to Rs 4,820 crore. Employee benefit costs slightly decreased to Rs 155 crore, while depreciation and amortization dropped sharply by 87%, standing at Rs 33 crore. Finance costs saw a minor increase to Rs 69.64 crore over the fiscal year.
Overall, Walmart India’s total expenditures were reduced by 2.4%, totaling Rs 5,354 crore in FY24. The company successfully controlled its losses, recording a 68% reduction with a comprehensive loss of Rs 151.91 crore after factoring in additional gains.
Walmart India also has significant involvement in e-commerce through its ownership of Flipkart, a major competitor of Amazon in the Indian market. While Flipkart’s consolidated report is pending, its marketplace division noted a 26.4% growth in gross merchandise value (GMV), exceeding Rs 70,000 crore, and reduced its losses by 13.2% to Rs 4,248 crore for FY24.
As Walmart India grows, it faces competitive pressure from organized retail giants like Reliance Retail and Metro Cash & Carry, who are actively expanding their footprints in the wholesale segment.
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