Walmart India reports Rs.299-cr loss in FY20
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New Delhi, Oct. 10 -- Walmart India Private Limited, which operates 28 wholesale stores under the Best Price Modern Wholesale format, reported net loss of Rs.299.20 crore for the year ended 31 March, 2020.
The retailer's losses widened compared to the previous financial year. Walmart India, whose wholesale business was recently acquired by e-commerce major Flipkart Group, had reported a net loss of Rs.171.68 crore in FY19, according to financial data accessed by business intelligence platform Tofler.
In FY20, the company's reported revenues were up 20% year-on-year at Rs.4,926 crore. The company's total expenses for the fiscal increased 22% at Rs.5,225 crore, Tofler's report said.
In July, this year e-commerce major Flipkart Group acqu...
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