Amazon Seller Services FY17 net loss widens to Rs 4,830.6 crore
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Amazon Seller Services, the online marketplace arm of Amazon India, saw its net loss widening to Rs 4,830.6 crore in FY17 against Rs 3,679.9 crore in the preceding year, according to filings with the Registrar of Companies (RoC) and data platform Tofler. Revenue from operations increased 41% to Rs 3,128.7 crore in FY17 from Rs 2,217.9 crore in FY16. Employee benefit expense rose 54.7% to Rs 781.1 crore. Total expenses increased 35.7% to Rs 8,087.2 crore in FY17.
In May this year, Amazon infused fresh capital of Rs 2,600 crore into Amazon Seller Services.
As per regulatory filings, the investment was made by Singapore-based Amazon Corporate Holdings and Amazon.com.incs. With this, total funds invested in the online market place business is little more than Rs 20,000 crore.
Prior to this, in January, Amazon Seller Services had received funds of Rs 1,950 crore from the parent firm. In November 2017, the business got capital infusion of Rs 2,900 crore. This is part of Amazon’s investment commitment of $5 billion in India.
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