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Amazon Seller Services annual revenue up 14.5%, loss narrows
YourStory
·
8m ago
Medial
Amazon Seller Services, a division of Amazon, has reported a 14.5% increase in operational revenue for the year ending March 2024. This led to a narrower loss after tax, with revenue reaching Rs 25,406 crore compared to Rs 22,198 crore the previous year. Loss after tax improved to Rs 3,469 crore from Rs 4,854 crore. However, expenses increased by 6.5%, mainly in transportation and legal professional charges, affecting the company's margins. Amazon US also reported a strong Q3 with a profit up 55%. Amazon.in recently launched the Creator Central platform to support content creators.
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Amazon India marketplace posts Rs 588 Cr adjusted EBITDA in FY24
Entrackr
·
8m ago
Medial
Amazon India’s marketplace revenue has continued to outpace Flipkart Marketplaces, with collections from its platform and related services crossing the Rs 25,000 crore mark and registering an adjusted EBITDA of Rs 588.6 crore in FY24. However, Flipkart’s top-line growth was significantly higher than that of Amazon Seller Services during the fiscal year ending March 2024. Amazon India’s revenue from operations grew 14.5% to Rs 25,406 crore in FY24 in contrast to Rs 22,198 crore booked in FY23, its standalone financial statements filed with the Registrar of Companies show. The entity generated 82.4% of the revenue from marketplace services while the remaining came from the services rendered to related parties including platform services, marketing, and royalty revenues. The firm also generated a non-operating income worth Rs 186.8 crore, pushing the overall revenue to Rs 25,592.8 crore in FY24. Amazon Seller Services is engaged in marketplace and marketing support services. Its ultimate holding company is Amazon.com, Inc., which is based in the United States of America. Moving over to the spending, delivery charges were the largest cost element forming 25.8% of the total expenses. The cost went up 9.1% to Rs 7,487.9 crore in FY24 from Rs 6,863.1 crore in FY23. Sales promotion and legal cum professional costs were the other two significant elements which formed around 12% each and stood at Rs 3,586.1 crore and Rs 3,530.2 crore, respectively, in FY24. During the year, Amazon Seller Services spent Rs 2,771.2 crore on employee benefits which also include share-based payments (ESOP cost) of Rs 682.7 crore. Amazon India marketplace arm’s total expenses increased 6.5% to Rs 29,062.3 crore during FY24 from Rs 27,283.6 crore in FY23. In the end, the company managed to control its losses by 28.5% to Rs 3,469.5 crore in FY24 as compared to Rs 4,854.1 crore in FY23. Its operating cash flows also turned positive to Rs 724.1 crore during the last fiscal year against Rs -1,542.1 crore in FY23. It is worth noting that the company reported an EBITDA loss of Rs 94.1 crore in FY24, excluding the ESOP cost (non-cash expenses), the company turned profitable on the operational level with an adjusted EBITDA of Rs 588.6 crore during the year. The highlights of the improved bottom line can also be seen in the EBITDA margin which strengthened to -0.37%. On a unit level, Amazon’s Indian entity spent Rs 1.14 to earn a rupee of operating revenue in FY24. The entity’s rival, Flipkart's marketplace arm reported Rs 17,907 crore in revenue with 21% YoY growth while the company’s losses shrank over 40% to Rs 2,358 crore in FY24.
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Amazon India Marketplace Nets INR 830 Cr From US Parent - StartupNews.fyi
Startup News FYI
·
1y ago
Medial
Amazon India's marketplace business, Amazon Seller Services, has received an infusion of INR 830 Cr from its US parent company. This investment follows a previous investment of INR 350 Cr in the fintech unit, Amazon Pay. With these investments, Amazon's total investment in its Indian entities this year exceeds INR 1,000 Cr. The marketplace's financial year ending in March 2023 reported a 3.4% revenue increase but a widening loss. Amazon is also reportedly entering the logistics business in India, launching a new vertical called Amazon Shipping.
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Amazon India Marketplace’s loss widens 33% to INR 4,854 Cr in FY23
Inc42
·
1y ago
Medial
Amazon Seller Services, the marketplace business of Amazon India, reported a 33% increase in standalone net loss for FY23, widening to INR 4,854.1 Crore from INR 3,649.2 Crore in the previous year. Operating revenue, however, only saw a marginal growth of 3.4% to INR 22,198 Crore. The company's total expenses increased by 7.9% to INR 27,283.6 Crore, with delivery charges comprising over 25% of the expenses. The marketplace faces competition from Flipkart, Tata, Reliance, Meesho, and Nykaa in the Indian ecommerce market.
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Amazon India logistics arm posts 7.6% rise in FY24 revenue to Rs 4,889 crore; loss narrows
Economic Times
·
8m ago
Medial
Indian shipping arm of Amazon, Amazon Transportation Services (ATS), reported a 7.6% increase in operating revenue to Rs 4,889 crore in the fiscal year ending March 2024. Despite this growth, the company's net loss only narrowed marginally by 6.9% to Rs 80 crore. Total income stood at Rs 4,946 crore, while expenses increased by 7% to Rs 5,004 crore. ATS has expanded its logistics infrastructure to deliver non-Amazon orders, positioning itself as a competitor to companies like Xpressbees, Delhivery, and Ecom Express. In FY24, the company did not receive any additional investment from its parent company.
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Bottomline: Saama Capital-backed Fisdom narrows loss, grows revenue in FY24
VCCircle
·
8m ago
Medial
Fisdom, a technology financial services company backed by Saama Capital, PayU Fintech Investments, and others, has reported a narrower loss and increased revenue for the fiscal year ending March 2024. With a consolidated net loss of INR 57.4 crore, the company showcased positive growth despite a slower pace. Fisdom aims to provide innovative financial solutions through technology.
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Clicktech Snaps Up Amazon India’s Largest Seller Appario
Inc42
·
1y ago
Medial
Amazon India's largest seller, Appario, will be acquired by Clicktech, one of the platform's biggest sellers. This comes as Amazon divests its stake in seller entities to comply with local ecommerce regulations. Appario had become Amazon India's top seller after Cloudtail closed. Meanwhile, Amazon is also acquiring Appario's parent company, Frontizo Business Services, from joint venture partner Patni Group. With this acquisition, Clicktech aims to expand its product offering and grow its presence on the marketplace. Amazon previously announced plans to remove Appario from the platform in 2022 due to protests and regulatory pressures.
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Peak XV, Lightrock-backed Yubi's topline rises, net loss narrows
VCCircle
·
8m ago
Medial
Yubi (formerly known as CredAvenue), a financial services unicorn backed by investors including B Capital and Lightspeed, has seen a rise in revenue from operations and a narrowing of net losses. The company offers debt restructuring, credit assessment, and collections services to banks and fintech companies. Its revenue from operations increased by 47.6% to INR 483.7 crore in the financial year 2024, while its net loss decreased to INR 395.8 crore. Yubi supports over 17,000 enterprises and 6,200 investors and lenders through its credit marketplace.
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CCI clears Amazon seller Appario’s sale to Clicktech
Economic Times
·
11m ago
Medial
The Competition Commission of India (CCI) has approved the sale of Appario Retail, the largest seller on Amazon India, to Clicktech, another major seller on the platform. This move is part of Amazon's plan to divest stakes in sellers on its platform to comply with local e-commerce rules. Appario was the last major seller in which Amazon held a stake. Clicktech, promoted by the Vinod Poddar group, will acquire Appario. Additionally, Amazon is acquiring Appario’s parent firm, Frontizo Business Services, from joint venture partner Patni Group.
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Paytm Q3: Loss narrows 43% YoY to INR 222 Cr, Sales jump 38%
Inc42
·
1y ago
Medial
Fintech giant Paytm reported a 43% decrease in net loss to INR 222 Cr in Q3 FY24 compared to INR 392 Cr in the same period last year, driven by a significant increase in revenue from merchant payment services. Operating revenue surged 38% to INR 2,850 Cr in the reported quarter. Paytm attributed its revenue growth to accelerated gross merchandise value (GMV) growth, higher device additions, and growth in its financial services business. The company also saw a 56% YoY increase in loan disbursements during the quarter.
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Ecommerce giants Amazon, Flipkart record Rs 11,621 crore in combined ad revenue in FY24
Economic Times
·
8m ago
Medial
India's top e-commerce platforms, Amazon and Flipkart, witnessed strong growth in advertising revenue in the fiscal year ending March 2024. Amazon Seller Services reported a 24% increase in revenue from other marketplace-related services, reaching Rs 6,649 crore, while Flipkart Internet recorded a 50% surge in advertising revenue, amounting to Rs 4,972 crore. Factors contributing to this growth include increasing internet penetration and the rising trend of online shopping in India, as well as investments in ad tech capabilities. Retail media platforms have been successful in offering precise targeting and innovative ad formats, attracting a diverse range of advertisers.
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