INDIA – Walmart India Pvt, a wholly-owned subsidiary of Walmart Inc., has witnessed its loss widening to ₹299.01 crores (US$36.24million) in FY22 from ₹ 200.80 crores (US$24.3m) in FY21, despite its revenue from operations has grown, according to financial data accessed by a business intelligence platform Tofler.

The company, in which Flipkart acquired 100% interest in July 2020, reported a revenue rise of 6.9% to ₹5,349.98 crores in FY22 compared to ₹5,004.88 crores for the financial year 2021.

Total income also went up by 6.40 percent to ₹. 5,361.72 crores for FY 22 compared to ₹5,038.75 crores in FY 21.

Walmart India’s revenue from other income was at ₹11.73 crores in FY22 while its total expenses stood at ₹5,660.74 crores, up 8.03% compared to the previous year.

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

Flipkart India’s FY22 net loss widens to ₹ 3,413 crores despite revenue growth

Meanwhile, e-commerce major Flipkart India’s consolidated net loss widened to ₹ 3,413 crores in the financial year 2022 despite an increase in revenues that totaled ₹51,176 crores.

Flipkart Group is one of India’s digital commerce leaders and includes group companies Flipkart, Flipkart Wholesale, and Myntra.

 Flipkart Wholesale (Flipkart India Private Limited) 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.

Compared to FY21, the company’s revenue has jumped 19 percent from ₹42,941 crore and losses increased by 39 percent from ₹2,445 crore loss recorded last year.

Categorically, Flipkart Wholesale recorded the highest revenue collection of ₹3848 crores from logistics management services, followed by ₹2,824 crores from computer development services, and ₹2084 crore from advertising services.

Earlier this week, the marketplace arm of Flipkart, Flipkart Internet reported a 51 percent growth in a net loss amounting to ₹4,362 crores against a 33 percent growth in revenue totaling ₹10,659 crores in FY22.

Additionally, Flipkart-owned fashion marketplace Myntra reported operating revenue of ₹3501 crores in FY22 and a loss of ₹597.6 crores as compared to ₹429 crores reported last year.

A few days ago, Walmart was reported to be considering raising US$2-3 billion at a valuation of more than US$40 billion for Flipkart, to expand its product range in India and challenge rivals.

In April, the e-commerce company was also reported to have internally raised its IPO valuation target from US$50 billion to US$60-70 billion and is eyeing a US listing in 2023 instead of 2022.

Flipkart is said to delaying the IPO to boost its valuation by increasing focus on two newer ventures — the healthcare service platform, Flipkart Health+, and the travel bookings business.

Ongoing global market conditions also played a role in impacting the company’s decision to reconsider IPO timelines.

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