Walmart India reports Rs 5,200 Cr revenue in FY24

With a 4% growth in scale, Walmart India’s revenue remained steady in the fiscal year ending March 2024. The company, which owns and operates 28 B2B Modern Wholesale Stores under the brand name "Best Price," reduced its losses by 68% during the same period.

Walmart India reported Rs 5,200 crore in revenue for FY24 from Rs 5,006 crore in FY23, as per its financial statement filed with the Registrar of Companies (RoC). It makes money via wholesale trading, with significant contributions from both food and non-food products. 

Besides operational revenue, other income—comprising gains from financial instruments and interest on bank deposits—increased by 37% to Rs 5.42 crore in FY24.

When it comes to cost, the largest expense contributor was purchases of stock-in-trade, which rose by 5.7% to Rs 4,820 crore. Employee benefit expenses declined slightly to Rs 155 crore, while depreciation and amortization expenses dropped 87% to Rs 33 crore. Finance costs increased marginally to Rs 69.64 crore last fiscal year. 

Ultimately, Walmart India’s total expenditure decreased by 2.4% to Rs 5,354 crore during the last fiscal year (FY24).

Despite steady revenue in the last fiscal year, Walmart India managed to control its losses, reducing them by 68%. The comprehensive loss, after accounting for other gains, stood at Rs 151.91 crore.

Walmart also owns Flipkart, a leading competitor to Amazon in India. While Flipkart’s consolidated financial statement is yet to be released, its marketplace arm reported a 26.4% spike in gross merchandise value (GMV), crossing the Rs 70,000 crore mark in the last fiscal. Moreover, Flipkart reduced its losses by 13.2% to Rs 4,248 crore for FY24.

Walmart India faces competition from organized retail and wholesale players, including Reliance Retail and Metro Cash & Carry.