Amazon’s B2B and logistics arms narrow losses in FY24
Revenue from operations for Amazon Wholesale (India) decreased marginally to Rs 3,576.70 crore in FY24, from Rs 3600.50 crore a year ago, while Amazon Transportation Services clocked a 7.6% growth in revenue to Rs 4,888.90 crore.
Amazon Wholesale (India), the B2B arm of Amazon Inc in India, has managed to narrow its annual loss by 44% in FY24 to Rs 342.30 crore, aided by lower expenses.
Revenue from operations decreased marginally to Rs 3,576.70 crore in FY24 from Rs 3600.50 crore a year ago, according to filings made with business intelligence platform Tofler.
Amazon Wholesale's expenses were reduced by 6.2% to Rs 3,958.60 crore, mainly due to decrease in interest payments, employee benefit expenses, expenses related to stock in trade, and other expenses.
The wholesale unit of the global conglomerate sells goods and services in bulk to sellers and distributors in India. Its seller services arm operates the company’s popular ecommerce business in the country.
Amazon’s logistics unit in the country, Amazon Transportation Services, witnessed marginal growth during the year, with revenue increasing by 7.6% during FY24 to Rs 4,888.90 crore from Rs 4,543.30 crore in the previous year.
The shipping arm also managed to narrow its losses marginally to Rs 80.3 crore from Rs 85.4 crore, mainly helped by lower expenses during the period. Its total expenses reduced by 7% to Rs 5,004 crore, driven by lower employee benefit expenses, finance costs, and other expenses.
Edited by Swetha Kannan