Flipkart, PhonePe MAU at an all-time high in India, says Walmart

Walmart on Tuesday announced the quarterly earnings report for the third quarter of 2020. In its quarterly report, the global giant said that its e-commerce wing Flipkart and its digital payments platform had strong results for the quarter.

“In India, Flipkart and PhonePe had strong results for the quarter. The number of monthly active customers for these platforms is at an all-time high,” Walmart president and CEO Doug McMillon said during the earnings call.

The company also announced that Flipkart, Canada and Walmex enabled it to chart a strong growth internationally despite the pandemic.

“Walmart International net sales were $29.6 billion, an increase of 1.3%. Changes in currency rates negatively affected net sales by approximately $1.1 billion. Excluding currency, net sales would have been $30.6 billion, an increase of 5.0% led by Flipkart, Canada and Walmex. Strong growth in net sales at Flipkart was helped by a record number of monthly active customers,” Walmart wrote in a press release.

“Total revenue was $134.7 billion, an increase of $6.7 billion, or 5.2%. Excluding currency, total revenue would have increased 6.1% to reach $135.8 billion,” the company added.

Overall, Walmart’s total revenue stood at $134.7 billion. Its consolidated operating income stood at $5.8 billion in Q3 2020, which is 22.5% more than the last quarter.