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Amazon Internet Services India falls into losses in FY20 even as revenue swells up 58 percent
FirstpostAmazon Internet Services, Amazon’s subsidiary, which undertakes the resale and marketing of Amazon Web Services’ cloud services in India, has shown a net loss of Rs 20 lakh for the financial year ended 31 March 2020 reported business intelligence platform Tofler. On the other hand, the revenues reported for FY20 stood at Rs 4,215.9 crore, up 58 percent from Rs 2,740 crore in the preceding financial year even as expenses also increased 60.5 percent to Rs 4,178 crore in FY20 from Rs 2,602 crore in FY19. Amazon Internet Services saw revenue from continuing operations jump to Rs 4,161.6 crore from Rs 2,637.2 crore. The regulatory filing from Tofler report that the employee benefit expenses increased 49 percent from Rs 321.2 crore to Rs 480 crore while finance costs saw a jump of 9,000 percent from Rs 40 lakh to Rs 36.5 crore.
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