Amway India Enterprises, a direct seller, has reported a widening net loss of INR 52.78 crore for the financial year 2024, while revenue from operations stood at INR 1,283.75 crore.
Amway total income rises 0.7% only
The company’s total income, including other income, was marginally up 0.7% to INR 1,293.97 crore.
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Compared to the previous year, Amway India’s net loss has more than doubled from INR 21.72 crore, while revenue from operations saw a marginal increase from INR 1,278.69 crore. The company’s advertising and promotional expenses decreased by 25.5% to INR 61.03 crore in FY24, while royalty paid to its US-based parent firm increased by 4.06% to INR 65.74 crore.
However, Amway India clarified that no royalty was paid to the parent company in FY 2024, and it has only accrued in the company’s books. Amway India Enterprises is a wholly-owned subsidiary of Alticor Global Holdings Inc., one of the largest direct-selling companies globally.
Amay spends INR 1300 Cr in FY24
Notably, the company’s total expenses stood at INR 1,347.37 crore, down 1.64% in FY24. Revenue from the ‘Nutrition and Wellness’ segment was up marginally at INR 782.40 crore, while revenue from ‘Personal Care’ and ‘Home Care’ segments declined to INR 219.04 crore and INR 123.57 crore, respectively.
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Further, a company spokesperson stated, “Like any organization pursuing its growth journey. Amway India too has gone through challenges that impacted its business, but we are progressing according to our plans.” The spokesperson added that Amway India holds an important position as a business market for Amway globally and is committed to the Indian market.
