Amazon seller services net loss widens 33% in FY23
Amazon Seller Services, the marketplace arm of Amazon India, has recorded a 33% increase in its net loss for the year ended March 2023 to Rs 4,854 crore from Rs 3,649 crore in the previous fiscal.
The company’s expenses jumped by almost 8% to Rs 27,283 crore while revenue from operations grew only 3.42% to Rs 22,198 crore, its regulatory filing showed.
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The company’s earnings from the sale/rendering of marketplace services were up 33% to Rs 12,548 crore over the last fiscal.
Revenue from rendering other marketplace-related services, which is primarily the ad revenue that the company earns, jumped 30% to Rs 5,380 crore. However, its revenue from the sale/rendering of services to related parties declined 46% to Rs 4,269 crore.
In terms of expenses, the company's spending on delivery charges rose 1.6% to Rs 6,863 crore, while advertising and sales promotion spending declined 6.3% to Rs 3,209 crore.
Total employee benefits expense grew 27.46% to Rs 2,795 crore.
The company received a fund infusion of Rs 7,850 crore in FY23 through the allotment of 7,850 million shares of Rs 10 each to its parent companies Amazon Corporate Holdings and Amazon.com Inc.
The company in the filing also said it has not changed the nature of
