Amazon India wholesale unit revenue jumps 26%, losses widen

Amazon India’s wholesale unit– Amazon Wholesale– has reported Rs 4,592 crore of revenue from operations in FY22 showing a jump of 26% compared to Rs 3,618 crore a year ago. It recorded a net loss of over Rs 480 crore compared to a little over Rs 161 crore a year ago, according to the latest regulatory filings sourced from the business intelligence platform.

The wholesale arm is a key unit of the US etailer’s local business in the country, even though the entity has been scaling down operations after tighter foreign direct investment (FDI) norms for ecommerce companies owned by foreign firms.

Amazon Wholesale India’s operational revenue had dropped 70% in FY20 compared to FY19.

The wholesale unit sells goods and services to sellers and distributors in bulk. Amazon Retail India, a separate unit formed by Amazon for food retail here, also reported its audited financials for FY22. Revenue from operations grew 7% to Rs 1,710 crore in the period under review compared to Rs 1,585 crore in FY21. Its losses increased to nearly Rs 794 crore in FY22 as against Rs 650 crore in the previous financial year– showing a jump of over 22%

The latest numbers come a day after Amazon India also reported revenue growth in its marketplace unit as well as cut its losses in FY22, as reported by ET. Amazon Seller Services, which runs the Amazon India marketplace, reported a 32% jump in overall revenue to Rs 21,633 crore on a standalone basis, from Rs 16,378 crore a year ago.