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Amazon Internet Services India falls into losses in FY20 even as revenue swells up 58 percent
The company reported a net loss of Rs 20 lakh for the financial year ended 31 March 2020 reported business intelligence platform Tofler.
Dec 22, 2020 17:33:29 IST
Amazon Internet Services, Amazon’s subsidiary, which undertakes the resale and marketing of Amazon Web Services’ (AWS) cloud services in India, has shown a net loss of Rs 20 lakh for the financial year ended 31 March 2020 reported business intelligence platform
Tofler. The company had posted profits in the previous FYs including Rs 71.1 crore in FY19, Rs 28.5 crore in FY18, Rs 176.2 crore in FY17, and Rs 3.7 crore in FY16. On the other hand, the revenues reported for FY20 stood at Rs 4,215.9 crore, up 58 percent from Rs 2,740 crore in the preceding financial year even as expenses also increased 60.5 percent to Rs 4,178 crore in FY20 from Rs 2,602 crore in FY19.
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