Amazon’s Logistics Arm Sees 7.6% Jump In Revenue, Narrows Net Loss By 6.9%

Amazon’s Logistics Arm Sees 7.6% Jump In Revenue, Narrows Net Loss By 6.9%

SUMMARY

Amazon Transportation Services (ATS) recorded a revenue increase of 7.6% in FY24.

ATS primarily facilitates Amazon’s vast ecommerce network in India through shipping and logistics operations.

ATS also saw a marginal reduction in its net loss, lowering it by 6.9% to INR 80 Cr from INR 86 Cr last year.

Amazon’s logistics arm, Amazon Transportation Services (ATS), recorded a revenue increase of 7.6% in FY24, marking an improvement from FY23’s INR 4,543 Cr to INR 4,889 Cr, as per the regulatory filing accessed by Tofler. 

Notably, ATS primarily facilitates Amazon’s vast ecommerce network in India through shipping and logistics operations.

While ATS saw a marginal reduction in its net loss, lowering it by 6.9% to INR 80 Cr from INR 86 Cr last year, expenses saw an upward trend.

The company’s total expenses rose by 7% to INR 5,004 Cr, with key costs including employee benefits at INR 624 Cr and additional operational expenses at INR 3,975 Cr. 

The overall total income reported for FY24 was INR 4,946 Cr.

Meanwhile, Amazon is mulling a standalone payments app in the rising payments industry in India. The plans come at a time when the ecommerce major has been ramping up efforts to drive the growth of its digital payment services arm.

In June, Amazon infused INR 600 Cr (about $72 Mn) in Amazon Pay India, taking its overall investment in the arm to INR 1,950 Cr. 

Amazon Pay India secured the approval from the Reserve Bank of India (RBI) to operate as a payments aggregator (PA) back in February. Besides, it also holds a prepaid payment instrument (PPI) licence. 

In a bid to further expand its fintech offerings, the entity is reportedly working with the National Payments Corporation of India (NPCI) to roll out credit services to customers through the Unified Payments Interface (UPI) since April. 

Notably, launched in 2019, Amazon Pay UPI offers a wide range of financial services, including money transfers, bill payments, insurance purchases, travel bookings, and investments in mutual funds and digital gold through Amazon’s ecommerce app.

You have reached your limit of free stories
Become An Inc42 Plus Member

Become a Startup Insider in 2024 with Inc42 Plus. Join our exclusive community of 10,000+ founders, investors & operators and stay ahead in India’s startup & business economy.

2 YEAR PLAN
₹19999
₹7999
₹333/Month
UNLOCK 60% OFF
Cancel Anytime
1 YEAR PLAN
₹9999
₹4999
₹416/Month
UNLOCK 50% OFF
Cancel Anytime
Already A Member?
Discover Startups & Business Models

Unleash your potential by exploring unlimited articles, trackers, and playbooks. Identify the hottest startup deals, supercharge your innovation projects, and stay updated with expert curation.

Amazon’s Logistics Arm Sees 7.6% Jump In Revenue, Narrows Net Loss By 6.9%-Inc42 Media
How-To’s on Starting & Scaling Up

Empower yourself with comprehensive playbooks, expert analysis, and invaluable insights. Learn to validate ideas, acquire customers, secure funding, and navigate the journey to startup success.

Amazon’s Logistics Arm Sees 7.6% Jump In Revenue, Narrows Net Loss By 6.9%-Inc42 Media
Identify Trends & New Markets

Access 75+ in-depth reports on frontier industries. Gain exclusive market intelligence, understand market landscapes, and decode emerging trends to make informed decisions.

Amazon’s Logistics Arm Sees 7.6% Jump In Revenue, Narrows Net Loss By 6.9%-Inc42 Media
Track & Decode the Investment Landscape

Stay ahead with startup and funding trackers. Analyse investment strategies, profile successful investors, and keep track of upcoming funds, accelerators, and more.

Amazon’s Logistics Arm Sees 7.6% Jump In Revenue, Narrows Net Loss By 6.9%-Inc42 Media
Amazon’s Logistics Arm Sees 7.6% Jump In Revenue, Narrows Net Loss By 6.9%-Inc42 Media
You’re in Good company