Amazon Seller Services, reported a 14.5% jump in operational revenue for the year ended March 31, 2024, leading to a narrower loss after tax.
It posted a revenue of Rs 25,406 crore in the year, compared with Rs 22,198 crore a year ago.
Loss after tax was Rs 3,469 crore, an improvement from a loss of Rs 4,854 crore last year.
Part of ecommerce giant Amazon’s marketplace division, Amazon Seller Services enables businesses in India to list, sell, and ship products on the platform, leveraging fulfilment tools, advertising, and customer insights to expand their reach and boost sales.
Amazon Seller Services, in February this year, received a financial infusion of Rs 830 crore from the US parent company. This was part of the $15 billion investment the company’s CEO Andy Jassy had said he’d make in the Indian market.
While the company reported strong revenue and improved loss, a 6.5% increase in expenses continued to squeeze its margins. Its biggest expense was related to transportation and distribution, followed by legal professional charges, which the company has classified under “other expenses”.
Earlier this month, Amazon US reported a strong third quarter, with profit up 55%, thanks largely to its cloud computing business, and said its fourth-quarter—seasonally strong for commerce, in general, due to Thanksgiving and Christmas holidays—would be even better.
The company expects to post net sales of up to $188.5 billion, up about 11% compared with the year-ago period.
Amazon.in, last week, launched a platform called Creator Central to make it easier for creators to produce and publish content.
