Amazon Wholesale India Private Limited, the wholesale B2B arm of the e-commerce firm, reported a revenue of Rs 11,250 crore, 8 per cent lower than it did for last financial year. The company’s net loss stood at Rs 141 crore, a rise of 7 per cent over 2017-18.
Amazon Transportation Services Private Limited reported a net loss of Rs 27.5 crore for the financial year, an 11 per cent increase from a year earlier, on a revenue of Rs 2,079 crore, which was 31 per cent more than last financial year.
The net loss of Amazon Pay India Private Limited, the digital payments arm of the online retail giant, stood at Rs 1,160 crore, 247 per cent more than last financial year, even as its revenue jumped 112 per cent on a year-on-year basis to Rs 835 crore. This entity is tapping India's booming digital payments market and competing with Walmart-owned PhonePe, Alibaba-backed Paytm, and Google's mobile payment service Google Pay.
Amazon is expecting its December quarter (Q4) revenue to also be low as the Diwali festive season in India extended over two quarters. Other factors expected to affect its sales were the company’s acquisition of Whole Foods and Souq, said Amazon Senior Vice-President and Chief Financial Officer Brian T Olsavsky.
Amazon said it was expecting its net sales during the December quarter to be between $80 billion and $86.5 billion, 11-20 per cent higher than the corresponding quarter last financial year.