New Delhi: Amazon Seller Services, the online marketplace arm of the e-commerce giant in India, has narrowed its loss to Rs 5,685 crore for 2018-19.
This is a 9.5 percent decrease from the last financial year, when the company had posted a loss of Rs 6,287.9 crore, as per documents sourced by business intelligence platform Tofler.
Amazon Seller Services saw revenues growing 55 percent to Rs 7,778 crore in 2018-19 over the previous fiscal, it added.
Coupled with its other entities in India, Amazon's losses in India in FY2018-19 were over Rs 7,000 crore.
Amazon Wholesale India - the B2B arm of the American e-commerce giant - reported its revenues for the financial year 2018-19 as Rs 11,250 crore, an 8 percent fall since the last financial year.
The entity's loss, however, widened to about Rs 141 crore during the same fiscal, from Rs 131.4 crore in 2017-18.
Amazon Pay India - its payments arm that competes with the likes of Paytm, Flipkart's PhonePe and Google Pay - recorded a manifold rise in losses. Its loss widened to Rs 1,160.8 crore in FY19 from Rs 334.20 crore in FY18, as per Tofler.
The unit's revenues for the financial year 2018-19 more than doubled to Rs 834.5 crore over the previous fiscal.
Amazon Transportation Services reported a 31 percent rise in revenues at Rs 2,079 crore, while its net loss was at Rs 27.5 crore in 2018-19.
Emails sent to Amazon India did not elicit a response.
Amazon and its rival, Walmart-owned Flipkart have been pumping in millions of dollars across various operations like a marketplace, infrastructure and supply chain management as well as marketing and promotion.
Amazon founder Jeff Bezos had committed investment worth $5 billion in the Indian market in 2016.
Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.
Updated Date: Oct 29, 2019 18:31:00 IST