E-commerce firm’s units for digital payments and selling cloud service report losses too for FY22.
Amazon Seller Services, the Indian marketplace arm of the American e-commerce giant, reported Rs 21,633 crore as revenue for the financial year 2021-22 (FY22), a 32 per cent jump since the last financial year.
The company reported a net loss of Rs 3,649 crore in (FY22), according to regulatory documents sourced from business intelligence platform Tofler. This is a 23 per cent decrease from the last financial year. The company’s total expenses for the fiscal were as Rs 25,283 crore.
Amazon Pay (India), the e-commerce firm’s digital payments arm, reported its revenues for FY22 at Rs 2,052 crore, a 16 per cent jump from the last financial year. Amazon Pay reported a net loss of Rs 1,741 crore in the same fiscal, according to Tofler. This is a 15 per cent increase from the last financial year. The company’s total expenses for the fiscal was Rs 3,793 crore.
Amazon Internet Services Private Limited (AISPL), which sells cloud AWS cloud computing services in India, reported its revenues for the financial year 2021-22 as Rs 8,982 crore, a 65 per cent jump from the last financial year. The company reported a net loss of Rs 2.3 crore in the same fiscal. This is a 112 per cent increase from the last financial year. The company’s total expense for the fiscal was Rs 8,905 crore.
Amazon reported the numbers as it prepares to host its one-month-long flagship sale event The Great Indian Festival (TGIF) from September 23 this month to tap the festive season.
Amazon India said on Monday that all new sellers registering with it between August 28 and October 26 and launching within 90 days from date of registration shall be eligible to avail 50 per cent waiver on selling fees across all categories.
“This festive season our focus continues to be on sellers potentially maximizing their success while endeavouring to provide our customers unmatched value and the convenience of shopping from anywhere, anytime,” said Vivek Somareddy, Director Fulfillment Channels at Amazon India.
Source : https://www.business-standard.com/article/companies/amazon-seller-services-revenue-rises-32-reports-rs-3-649-cr-net-loss-122091201019_1.html