Companies

Amazon’s e-comm business sees 42% jump in revenue in FY20

Our Bureau Bengaluru | Updated on December 24, 2020

Amazon Seller Services Private Limited, which is Amazon’s e-commerce business in India, reported ₹11,028 crore in revenues for financial year 2019-20, a 42 per cent jump since the last financial year.

The business reported a net loss of ₹5,849 crore during the same fiscal, which is a 3 per cent increase from the last financial year, as per data sourced from Toffler. An intensely competitive market landscape took Amazon’s expenses for the fiscal to ₹16,877 crore.

The e-tailer which started the year with 5.5 lakh sellers in January, added 1.5 lakh sellers and will exit 2020 with over 7 lakh sellers who sell millions of products to customers in India; 50 per cent of these sellers come from Tier 2 and 3 towns.

Amazon’s B2B business Amazon Wholesale (India) Private Limited, reported revenues of ₹3,388 crore for financial year 2019-20, a whopping 70 per cent fall since the last financial year.

The company further reported a net loss of ₹133 crore during the same fiscal. This constitutes a 5 per cent decrease from the last financial year. Amazon Wholesale’s total expenses for the fiscal were reported as ₹3,521 crore, as per data sourced from Toffler.

Founded in 2013, Amazon Wholesale India is a members-only website, meant specifically for businesses including small offices, entrepreneurs, department stores, kirana stores, drug stores, hospitals, hotels, etc. It also sources products from brands across the world and sells it to third party sellers who re-sell it on Amazon India’s marketplace – Amazon.in.

Published on December 24, 2020

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