Amazon India's ecomm arm shows a net loss of Rs 5,685 Cr in FY 19. Amazon Seller Services saw revenues growing 55 percent to Rs 7,778 crore in 2018-19 over the previous fiscal. Coupled with its other entities in India, Amazon's losses in India in FY19 were over Rs 7,000 crore.
Amazon Seller Services, the online marketplace arm of the ecommerce 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 says. Coupled with its other entities in India, Amazon's losses in India in FY19 were over Rs 7,000 crore.
Whereas, 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 FY 18, as per Tofler. The unit's revenues for financial year 2018-19 more than doubled to Rs 834.5 crore over the previous fiscal.
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