Walmart’s Indian wholesale unit posted an 11% increase in its revenue for the year-end March. As per the documents filed with the Registrar of Companies, the revenue amount is said to be ₹4,065 crores. If data research platform Tofler is to be believed, Walmart India’s net losses almost doubled year-on-year at ₹172 crores.
The company said, “We continue to build capabilities for the future through investments in revamping our technology infrastructure to enhance our omnichannel capabilities and in people development. The increased losses during the year under review reflect the investments that we are making to drive our future growth.”
Walmart is relatively new to India as it doesn’t sell directly to consumers. Instead, it acts as an organized wholesaler or cash-and-carry operator that sells merchandise to local catering firms, hotels, and kirana stores. Walmart runs a total of 25 wholesale cash-and-carry stores branded as ‘Best Price Modern Wholesale’, and a membership-based program that counts more than one million members.