Amazon India reports 30% jump in revenue in FY22 trimming its losses
As per media reports, the company has reported an annual profit of Rs 326 crore
Trimming its India losses by 17%, e-commerce giant Amazon India has reported a 30% increase in revenue at its five units—marketplace, transportation, internet, data and payments—for FY22, as per media reports quoting Tofler.
The company reported an annual profit of Rs 326 crore on a revenue of Rs 3,567 crore on a standalone basis. In FY21, it reported a profit of Rs 148 crore on revenues of Rs 2,553 crore.
During the year, the marketplace managed to reduce its losses to Rs 3,649 crore from Rs 4,748 crore in FY21.
Besides product sales, its revenue is generated from multiple sources, including subscription services, royalties, fees for offering its marketplace to sellers and services such as shipping, advertising and others.
Meanwhile, the company announced on Monday it will halve the fee for new sellers on its platform as the e-commerce giant gears up for the festive season in one of its key markets.
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