E-commerce giant Walmart said that its international business sales grew 1.3 percent to US $ 29.6 billion during the quarter ended 31 October.
Walmart bought majority stake in Flipkart in 2018
The company said that the number of monthly active users of Flipkart and PhonePe is at an all-time high. US-based Walmart entered Indian e-commerce company Flipkart in 2018 for US $ 16 billion Majority Had acquired the stake.
read this also- Price of potato and onion spoiled the budget of common man’s kitchen, increase the price from 19 to 20 kg in just 13 daysIn a statement, Walmart said its international business sales grew 1.3 percent to $ 29.6 billion and the negative impact on exchange rates affected its total sales by about $ 1.1 billion.
The company said, “Excluding the impact of the exchange rate, total sales grew by five percent to $ 30.6 billion, led by Flipkart, Canada and Valmex. Flipkart recorded a strong increase in net sales due to record active monthly users. ”
Walmart president, CEO and director C Douglas McMillan also noted the strong performance of Indian units. He said, “Quarterly results of Flipkart and PhonePe were strong in India. The number of monthly active users of these forums is at an all-time high. ”