Amazon India’s Sales Grows By 6X But Reports A Loss Of Rs 1,724 Crore In FY 14-15January 25, 2016 2016-01-25 12:52
Amazon India’s Sales Grows By 6X But Reports A Loss Of Rs 1,724 Crore In FY 14-15
Amazon India on Saturday in a filing with the Registrar of Companies, registered a loss of Rs 1,724 crore in the year ended March 2015. The company had a net loss of Rs 321 crore last year.
The major reason for this, can only be stated as the heavy discounts given to acquire customers and increase sales and expenses including marketing and promotions. The primary income, the company earns is from seller commissions, advertisement revenue and sales of its Kindle e-reader.
The US based e-retailer’s sales increased six fold that is upto Rs 1,022 crore in 2014-15 from Rs 169 crore a year earlier.
Amazon had recently said that it will be investing Rs 1,696 crore in Amazon seller services.
Earlier Snapdeal had reported a loss of Rs 1,328.01 crore while Flipkart reported a loss of about Rs 2,000 crore.