Monthly active users for Flipkart, PhonePe at all-time high: Walmart

E-commerce giant Walmart has clocked 1.3 per cent increase in net sales in its international business at $29.6 billion in the third quarter ended October 31, supported by strong results of Flipkart and PhonePe that saw “all-time high” monthly active users.

The US-based company had picked up a majority stake in the Indian e-commerce major, Flipkart, for $16 billion in 2018. Earlier this year, Walmart led a new $1.2 billion financing round that valued Flipkart at $24.9 billion.

In a statement, Walmart said its ‘international’ segment’s net sales were at $29.6 billion, an increase of 1.3 per cent, and that changes in currency rates had negatively affected net sales by approximately $1.1 billion.