Akshata Sharma
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US-based retail major Walmart's chief financial officer (CFO) John David Rainey has said that ecommerce major Flipkart and digital payments giant PhonePe are on "path to profitability"
Speaking at an investor conference in London, parent Walmart's CFO said that Flipkart's "improving" losses are giving the the retail major a "lot of confidence" in what the ecommerce giant's financial profile would look in a few years.
On PhonePe, the Walmart CFO said that the fintech major is clocking "roughly $1.5 Tn of total payments volume (TPV)".
He also expressed confidence over the growth clocked by PhonePe, saying Walmart is "pleased" with the performance of the fintech major.
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