Despite most of its business units in India registering losses during the fiscal, Amazon invested over Rs 11,400 crore across its marketplace, payments and wholesale business units during FY2019-20. As per reports, the losses of Amazon Seller Services, Amazon Wholesale (India), Amazon Pay (India) and Amazon Transportation Services widened to Rs 7,899 crore in FY20 as against a loss of Rs 7,014.5 crore in the preceding fiscal. Amazon Seller Services, Amazon Wholesale (India), Amazon Pay (India) and Amazon Transportation Services had registered losses in FY20 at Rs 5,849.2 crore, Rs 133.2 crore, Rs 1,868.5 crore and Rs 48.1 crore, respectively.
Amazon Internet Services, which had clocked a net profit of Rs 71.1 crore in FY19, registered a loss of Rs 20 lakh in FY20. The e-commerce giant, which has been investing millions of dollars towards promotions, building infrastructure and logistics as it woos customers to shop online, has seen its losses mount on account of higher expenses.
Filings showed that Amazon Pay's total expenses grew 62 per cent to Rs 3,234.8 crore in FY20, while Amazon Seller Services saw its total expenses rising over 25 per cent to Rs 16,877.1 crore in the said period.
