Amazon India trims losses, witnesses 30 percent revenue increase in its five units
Reporting an annual profit of Rs. 326.8 crore, Amazon Data Services India Pvt. Ltd is the only entity to witness this on a revenue of Rs. 3,567.3 crore that too on a standalone basis.
An increase of 30 percent has been recorded by e-commerce giant Amazon India in the financial year 2021-2022, in its five units including marketplace, transportation, internet, data, and payments. This was shown by the regulatory filings sourced from business intelligence firm Tofler. The filings also revealed that the company narrowed losses by 17 percent. Reporting an annual profit of Rs. 326.8 crore, Amazon Data Services India Pvt. Ltd is the only entity to witness this on a revenue of Rs. 3,567.3 crore that too on a standalone basis. In the previous year, it reported a gain of Rs.148.7 crore on revenues of Rs. 2,553.1 crore.
Running the Amazon India marketplace, Amazon Seller Services recorded an increase of 32 percent in its revenue. After the rise, its revenue stands at Rs. 21,633 crore from Rs. 16,378 crores a year ago. During the financial year 2021, the market has managed to decrease its losses from Rs. 4,748.1 crore to Rs. 3,649.2 crore. Compared to Rs. 6,332 crore in the financial year 2021, its spending on order deliveries was Rs. 6,751.2 crore and the expenses of the unit increased about 19 percent to Rs. 23,120 crore. From Rs. 2,554.2 crore, its earnings from advertising services rose to Rs. 4,171.4 crore for the year.
In the country, Amazon is the second largest e-commerce brand after Walmart’s Flipkart. In addition, outside the United States of America, India is one of the biggest and fastest-growing markets of the e-commerce giant.
Other units of Amazon operating in the nation are Amazon Data Services, Amazon Internet Services, Amazon Pay (India), and Amazon Transportation Services. From a profit of Rs. 18.5 crore a year ago, Amazon Internet Services witnessed a loss of Rs. 2.3 crore. However, in the financial year 2022, its revenue reported a jump of 65 percent to Rs. 8,981.9 crore. While Amazon Transportation witnessed an increase of 12.9 percent reporting Rs. 4,581 crore revenue in FY22, Amazon Pay India recorded a 16 percent increase to Rs. 2,052.4 crore in the same period.
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