BENGALURU: Walmart India , which runs cash-and-carry stores in the country, narrowed its losses by almost 27% during FY17 compared to the 12 months in the previous fiscal, according to its financials with the Ministry of Corporate Affairs (MCA) sourced from data-tracking platform Tofler. The company posted a loss of Rs 75 crore for FY17. Total expenses clocked by the company during the same period come up to Rs 3,716 crore.Walmart India , which owns and operates 21 Best Price Modern Wholesale stores had to shut operations of a store in Vijayawada as a result of a fire in August 2016. But the company “is strongly committed to reopening the said store,” read the financials of Walmart India, with plans of adding a pipeline of new stores to expand footprint in the coming years. Store expansion was put on hold until August 2015.

Source: Economic Times May 07, 2018 02:37 UTC