Amazon Seller Services saw a 14.5% increase in operational revenue for the year ending March 31, 2024, which helped reduce its loss after tax. The company reported revenue of INR 25,406 crore, up from INR 22,198 crore the previous year.
Amazon registers INR 3,469 Cr loss after tax
According to the exchange filing of e-commerce major, the loss after tax was INR 3,469 crore, better than the INR 4,854 crore loss last year. Amazon Seller Services, part of Amazon’s marketplace division, helps businesses in India list, sell, and ship products on the platform. It uses fulfilment tools, advertising, and customer insights to help them reach more customers and increase sales.
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In February, Amazon Seller Services received INR 830 crore from its US parent company. This is part of the $15 billion investment that CEO Andy Jassy promised for the Indian market. Despite strong revenue and reduced losses, a 6.5% rise in expenses squeezed its margins. The largest expenses were for transportation and distribution, followed by legal professional charges, listed under “other expenses”.
Amazon.in launches Creator Central for creators
Meanwhile in this month, Amazon US announced a strong third quarter, with profits up 55%, mainly due to its cloud computing business. The company expects the fourth quarter, boosted by Thanksgiving and Christmas holidays, to be even better. They forecast net sales of up to $188.5 billion, about 11% higher than the same period last year.
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Notably, Amazon launched a platform called Creator Central last week, making it easier for creators to produce and publish content.
