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Amazon invests Rs 11,400 crore in India in FY20
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Updated Dec 29, 2020 | 16:35 IST
Amazon, which has been locked in a bruising battle for market leadership with Walmart-owned Flipkart, also faces competition from Reliance Industries that has been bolstering its position in the retail segment Amazon invests Rs 11,400 crore in India in FY20 to strengthen its position | Photo Credit: PTI
New Delhi: US e-commerce giant Amazon has pumped in over Rs 11,400 crore (about USD 1.5 billion) during FY2019-20 across its marketplace, payments and wholesale business units in India to bolster its position in the country s burgeoning digital commerce market. The investments have been made even though most of Amazon s business units in India registered losses during the fiscal.
Amazon invests Rs 11,400 cr in India in FY20
Amazon invests Rs 11,400 cr in India in FY20
NEW DELHI: US e-commerce giant Amazon has pumped in over Rs 11,400 crore (about USD 1.5 billion) during FY2019-20 across its marketplace, payments and wholesale business units in India to bolster its position in the country’s burgeoning digital commerce market.
The investments have been made even though most of the Amazon’s business units in India registered losses during the fiscal.
Data analysis from regulatory filings by various Amazon entities showed that Amazon Seller Services, Amazon Wholesale (India), Amazon Pay (India) and Amazon Transportation Services saw their losses adding up to Rs 7,899 crore in FY20 as against a loss of Rs 7,014.5 crore in the preceding fiscal.
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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