Amazon India net loss widens to Rs 1,724 Cr, Registered a Six-Fold Increase in Sales
MUMBAI: As per the report, Amazon India Losses in business goes up to Rs 1,724 crore in the year ended March 2015. The reason of such a huge loss occurred because of Amazon's expenses was due to higher advertising, sales and promotion costs of almost Rs 1,405 crore, almost equivalent to the combined marketing spends of Godrej Consumer, Dabur and Marico.
However, Amazon Seller Services registered a six-fold increase in sales to Rs 1,022 crore in 2014-15 from Rs 169 crore a year earlier, according to a filing with the Registrar of Companies on Saturday.
The combined losses of the 'Big 3' online firms including Flipkart and Snapdeal to Rs 5,052 crore as they hunted for buyers by offering deep discounts.
Flipkart, India's largest e-commerce firm, reported a loss of about Rs 2,000 ...