Amazon India's e-commerce arm narrows FY19 loss to ₹5,685 cr1 min read . Updated: 29 Oct 2019, 01:07 AM IST
- This is a 9.5% decrease from the last financial year, when the company had posted a loss of ₹6,287.9 crore
- Amazon Seller Services saw revenues growing 55% to ₹7,778 crore in 2018-19 over the previous fiscal
New Delhi: Amazon Seller Services, the online marketplace arm of the e-commerce giant in India, has narrowed its loss to ₹5,685 crore for 2018-19.
This is a 9.5 per cent decrease from the last financial year, when the company had posted a loss of ₹6,287.9 crore, as per documents sourced by business intelligence platform Tofler.
Amazon Seller Services saw revenues growing 55 per cent to ₹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 ₹7,000 crore.
Amazon Wholesale India - the B2B arm of the American e-commerce giant - reported its revenues for financial year 2018-19 as ₹11,250 crore, an 8 per cent fall since the last financial year.
The entity's loss, however, widened to about ₹141 crore during the same fiscal, from ₹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 ₹1,160.8 crore in FY19 from ₹334.20 crore in FY18, as per Tofler.
The unit's revenues for financial year 2018-19 more than doubled to ₹834.5 crore over the previous fiscal.
Amazon Transportation Services reported 31 per cent rise in revenues at ₹2,079 crore, while its net loss was at ₹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 marketplace, infrastructure and supply chain management as well as marketing and promotion.
Amazon founder Jeff Bezos had committed investment worth USD 5 billion in the Indian market in 2016.
This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.