Flipkart acquisition continues to hit Walmart International

NEW DELHI : The Flipkart acquisition once again negatively impacted Walmart International’s operating income on Thursday which dropped to $600 million in the third quarter ending September from $1.2 billion a year-ago quarter — a massive drop of 46.2 per cent.

Operating income declined 5.4 per cent — or 4.1 per cent in constant currency — due in part to a non-cash impairment charge for Walmart International.

“As expected, the inclusion of Flipkart negatively affected operating income,” the company said in a statement on Thursday.

Net sales at Walmart International were $29.2 billion — an increase of 1.3 per cent.