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Amazon Wholesale India narrows loss to Rs 342 crore in FY24, Amazon Pay narrows loss to Rs 911.2 crore

The company had posted a loss of Rs 615.7 crore in 2022-23

New Delhi: Amazon’s B2B arm Amazon Wholesale (India) has reported narrowing of loss to Rs 342.3 crore in 2023-24 on a year-over-year basis, according to a report released by Tofler on Tuesday.

The company had posted a loss of Rs 615.7 crore in 2022-23.

Revenue from operations of Amazon Wholesale (India) declined marginally to Rs 3,576.7 crore in FY24 from Rs 3,600.5 crore in FY’23.

“Amazon Wholesale India Private Limited reported its revenues (total income) for the financial year 2023-24 as Rs 3,614 crore. The company further reported a net loss of Rs 342 crore during the same fiscal. This is a 44 per cent decrease from the last financial year. The company’s total expenses for the fiscal were reported as Rs 3,959 crore,” Tofler said.

During the reported financial year, the company allocated shares worth Rs 1,400 crore to parent group entities.

Amazon’s fintech arm Amazon Pay (India) has reported a narrowing of loss to Rs 911.2 crore in the financial year 2024, according to a report released by Tofler. The company had registered a loss of Rs 1,499 crore in FY 2023.

Amazon Pay reported an increase of 9.2 per cent in revenue from operations to Rs 2,286.9 crore in FY 2024 from Rs 209.31 crore in FY 2023.

The company issued shares worth Rs 1,450 crore to parent group firms during the reported fiscal year, as per the document shared by Tofler.

The post Amazon Wholesale India narrows loss to Rs 342 crore in FY24, Amazon Pay narrows loss to Rs 911.2 crore appeared first on India Retailing.



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