Amazon India revenue jumps 43 percent, loss widens to Rs 5,849 crore
Amazon Seller Services, the online marketplace of e-tail giant Amazon in India saw its losses widen to Rs 5,849 crore ($794.1 million) for the 2019-20 fiscal, as against a net loss of Rs 5,685 crore it reported last year.
The company’s revenue, however, grew 43 percent to Rs 10,848 crore in the financial year 2020 from Rs 7,593 crore in FY19.
Amazon’s total expenses rose over 25 percent from Rs 13,463 crore in FY19 to Rs 16,877 crore in FY20.
“The company revenue grew by 43 percent compared to the last financial year. The company continues to invest in opening new fulfillment centres, technology advancement, launch of new products and services for its customers and sellers,” Amazon Seller Services said in its filing with the Registrar of Companies.
During the financial year, Amazon Seller Services received over Rs 8,400 crore in fund infusion in three tranches from its parent firm. Amazon competes in India against Walmart-backed Flipkart and other e-commerce players like Snapdeal and Paytm Mall.
Copyright © 2021 FashionNetwork.com All rights reserved.