Advertisement

  • News
  • Columns
  • Interviews
  • BW Communities
  • Events
  • BW TV
  • Subscribe to Print
  • Editorial Calendar 19-20
BW Businessworld

Amazon India May Have Clocked Over Rs 10,000 Crore In Sales This Fiscal

Cloudtail India, which sells nearly 10 per cent of Amazon India's merchandise, posted sales of Rs 1,145 crore in its first full year of operations in 2014-15, indicating that the American e-commerce firm may have clocked sales of over Rs 10,000 during the fiscal

Photo Credit :

1451557814_azNeEO_amazon-reuters-870.jpg

Cloudtail India, which sells nearly 10 per cent of Amazon India's merchandise, posted sales of Rs 1,145 crore in its first full year of operations in 2014-15, indicating that the American e-commerce firm may have clocked sales of over Rs 10,000 during the fiscal.

According to Cloudtail's filing with the Registrar of Companies on Tuesday, the company, which is Amazon's biggest vendor in the country, incurred a net loss of Rs 32 crore in its operations.

Amazon India is yet to submit its financial data for the current fiscal.

Cloudtail India is a joint venture between Amazon Asia and Infosys founder NR Narayana Murthy's Catamaran through a holding company Prione Business Services.

According to a report in The Economic Times, the US based e-commerce firm, Amazon may have clocked sales of over Rs 10,000 during the fiscal in India.

Last week, Amazon India reported that its portal has emerged as the largest store in the country, with over 40 million products offered and nearly 55,000 new products added each day.

"We saw 250 per cent growth in our seller base and emerged as the most visited site twice this year. We also received 65 per cent orders from tier II cities and below and 70 per cent of our traffic came from mobile," Amit Agarwal, Amazon India's vice president and country manager said in the statement last week.

Amazon is betting on India to grow the online business outside its American base. It has committed an investment of a little over $2 billion in India so far.

According to an earlier Goldman Sachs report, India's e-commerce market is expected to grow from $26 billion to $103 billion by 2019-20.


Tags assigned to this article:
amazon ecommerce Cloudtail India