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Amazon Seller Services' losses see 9.5% drop in FY19

Amazon's online marketplace division has generated 55% more revenue at 7,778 crore rupees compared to the last fiscal.

Oct 29, 2019 by The Passage Team
Amazon Seller Services' losses see 9.5% drop in FY19

Amazon Seller Services has brought down its year on year loss from 6,287.9 crore rupees to 5,685 crore rupees for the financial year 2018-19, documents sourced by business intelligence platform Tofler showed.

The online marketplace arm has generated 55% more revenue at 7,778 crore rupees compared to the last fiscal.

“The company also recognises revenue from providing space for advertisement on its website, which are recognised based on the number of clicks or impressions, and reported as other marketplace-related services,” Amazon Seller Services’ filing with the Registrar of Companies said.

Amazon Wholesale India saw an 8% drop in its revenues at ₹11,250 crore. The B2B arm’s loss stood at 141 crore rupees from ₹131.4 crore in 2017-18.

“Total revenue of the company in Financial Year 2018-19 fell to Rs 112,316 million (Rs 11,231.6 crore) in comparison of last year's revenue of Rs 122,242 million. The company is in (the) process (of) expanding its business and (the) management is confident of its future growth,” Amazon Wholesale’s filing with the Registrar of Companies said.

The losses of payments arm, Amazon Pay India, mounted exponentially at 1,160.8 crore rupees from ₹334.20 crore in last fiscal. However, its revenues for financial year more than doubled to 834.5 crore rupees year on year.

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.

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.

The Passage Team

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