Walmart India revenue rises 11%

MUMBAI| BENGALURU: The Indian wholesale unit of Walmart, the largest brick-and-mortar retailer, posted 11% increase in its revenue for the year ended March at Rs 4,065 crore, as per documents filed with the Registrar of Companies. Walmart India’s net losses almost doubled year-on-year at Rs 172 crore, according to data sourced from data research platform Tofler.
“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 company said. “The increased losses during the year under review reflect the investments that we are making to drive our future growth.”
In India, Walmart doesn’t sell directly to consumers and is an organised wholesaler or cash and carry operator that sell merchandise to local kirana stores, hotels and catering firms.