Bengaluru, September 18, 2025 – Walmart India, the local arm of the US retail giant, has managed to trim its losses significantly in FY25 even though revenue growth remained sluggish.
According to filings with the Registrar of Companies (RoC), Walmart India’s operating revenue rose 2.6% to ₹5,330.9 crore in FY25, compared to ₹5,194.9 crore in the previous year. However, the company narrowed its net loss by nearly 29% to ₹109.8 crore, down from ₹154 crore in FY24.
Cost Controls Drive Improvement
The sharper bottom-line performance was largely due to lower employee costs and reduced financing expenses, including lease liabilities and bank overdraft charges. Total expenses in FY25 stood at ₹5,483 crore, up from ₹5,354 crore a year earlier. Notably, employee benefit expenses fell over 10% to ₹139 crore, helping offset the modest rise in overall costs.
This marks the second consecutive year of reduced losses for Walmart India, which operates Flipkart Wholesale (formerly Best Price). The business primarily serves small neighborhood retailers by supplying food and non-food products through cash-and-carry outlets.
Flipkart and Amazon: Marketplace Comparison
Walmart-owned Flipkart Internet, the marketplace arm of Flipkart, reported revenue of ₹20,493 crore in FY25, a growth of 14% year-on-year. Its net losses narrowed 37% to ₹1,494 crore. However, this was a slowdown compared to the 21% revenue growth in FY24, after two years of expansion above 20%.
Meanwhile, rival Amazon Seller Services posted a stronger performance. Its revenue from operations grew 19% to ₹30,139 crore in FY25, according to RoC data accessed via Tofler. Losses also shrank sharply—down 89% to ₹374.3 crore, highlighting improved operational efficiency at Amazon India’s marketplace business.
Outlook
While Walmart India’s revenue growth has remained modest in the post-pandemic period, its continued ability to reduce losses signals improving financial discipline and operational efficiency. With strong competition from Amazon and ongoing pressure to scale profitably, the focus for Walmart’s Indian arm will likely remain on cost controls and sustaining steady growth in its wholesale business.