Amazon India's e-commerce arm narrows FY19 loss to Rs 5,685 cr; revenue rises 55% to Rs 7,778 cr

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

Press Trust of India October 29, 2019 11:56:40 IST
Amazon India's e-commerce arm narrows FY19 loss to Rs 5,685 cr; revenue rises 55% to Rs 7,778 cr
  • 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

  • Coupled with its other entities in India, Amazon's losses in India in FY2018-19 were over Rs 7,000 crore

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.

Amazon Indias ecommerce arm narrows FY19 loss to Rs 5685 cr revenue rises 55 to Rs 7778 cr

Representational image. AP.

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.

Updated Date:

also read

Shane review: A delightful journey down memory lane
Entertainment

Shane review: A delightful journey down memory lane

For the millions who did not see Shane Warne perform live, tuning in to this documentary will be the best 90-minutes they are likely to spend in front of their streaming medium.

A Hero movie review: Asghar Farhadi delivers a tale about ethics and integrity with a fairly engaging script
Entertainment

A Hero movie review: Asghar Farhadi delivers a tale about ethics and integrity with a fairly engaging script

A Hero lacks the verve of A Separation and the emotional gravitas of The Salesman but as a generic social drama, it has its heart in the right place.

As We See It review: Amazon Prime Video show throws a thoughtful lens at life on the spectrum
Entertainment

As We See It review: Amazon Prime Video show throws a thoughtful lens at life on the spectrum

In As We See It, characters on the spectrum are defined not by autism alone but by their likes and dislikes, fears, challenges, workplaces, and aspirations