Walmart India’s FY24 revenues rise by 4% to Rs 5, 200 crore
04 November 2024, Mumbai
Walmart India’s revenues increased by 4 per cent to Rs 5,200 crore during FY’24 as against Rs 5,006 crore revenues recorded in FY23, as per the company’s financial statement filed with the Registrar of Companies (RoC).
Losses by the 28 B2B Modern Wholesale Stores operator under the ‘Best Price’ brand also declined by 68 per cent during this fiscal. Most of the company’s revenue is generated from wholesale trading across both food and non-food categories.
Besides operational revenue, Walmart India also registered a 37 per cent rise in other income, including gains from financial instruments and bank deposit interest, reaching Rs 5.42 crore in FY24. The company’s key expenditures including purchase of stock-in-trade rose by 5.7 per cent to Rs 4,820 crore. However, employee benefit expenses declined to Rs 155 crore, and depreciation and amortisation costs contracted by 87 per cent to Rs 33 crore. The company’s finance costs also reduced to Rs 69.64 crore during FY24 while its overall total expenditure declined by 2.4 per cent to Rs 5,354 crore.
Walmart India also managed to reduce its comprehensive loss by 68 per cent during the year, with a final loss totaling to Rs 151.91 crore after accounting for other gains.
Walmart’s market place subsidiary, Flipkart reported a 26.4 per cent increase in gross merchandise value (GMV), surpassing Rs 70,000 crore, and a 13.2 per cent reduction in losses to Rs 4,248 crore during the fiscal year. Operating in a competitive landscape, Walmart India faces several challenges from organised retail and wholesale players such as Reliance Retail and Metro Cash & Carry.
