Flipkart’s double-digit growth helps Walmart sales jump 13% at $26.8 bn

Walmart’s international net sales were up 12.9 per cent year-on-year (YoY) at $26.8 billion in constant currency (CC), led by Flipkart, China, and Walmex (Walmart de México y Centroamérica), said the company in the first quarter (Q1) of 2023-24 (FY24) results. The company said there was strong sales growth, led by double-digit growth in Flipkart, China, and Walmex.

Walmart’s financial year runs from February 1 to January 31 of the following year.

The US retail giant is the owner of the e-commerce company Flipkart and financial technology firm PhonePe. Walmart said that PhonePe, which was recently hived off from Flipkart, crossed an annualised payments volume of $1 trillion, according to Walmart filings.