Amazon, Flipkart revenues soar in FY21 as e-commerce sees aggressive sales

E-tailers Amazon, Flipkart’s revenues and profits have witnessed a significant jump in FY21 as online shopping turned mainstream with COVID-19 impacting the physical retail industry of India. Data sourced from business intelligence firm Tofler indicated that Amazon Seller Services India and Amazon Wholesale reported a surge in profits despite the regulatory crackdown and legal tussles the e-commerce giant is entangled in.

 
The revenues of Amazon Seller Services, as per Tofler, grew to Rs 16,379 crore, a 49 per cent jump in FY21 since the last financial year. The company further reported a net loss of Rs 4,748 crore during the same fiscal. This is a 19 per cent decrease from the last financial year. The company’s total expenses for the fiscal were reported at Rs 21,127 crore. Amazon India Seller Services operate the online market place.
 
Amazon Wholesale India, the online B2B arm of Amazon India, on the other hand saw its revenues slump by 7 per cent year-on-year (YOY) in FY21 to Rs 3,143 crore. The company further reported a net profit of Rs 43 crore during the same fiscal. This is 132 per cent increase from the last financial year. The company’s total expenses for the fiscal were reported at Rs 3,098 crore.

 
Flipkart, India's homegrown e-commerce firm which is registered in Singapore, operates in India through various subsidiary firms, including Flipkart India and Flipkart Internet.

Flipkart India saw a revenue jump by 25 per cent in FY21 compared to FY20, to stand at Rs 43,357 crore. The company further reported a net loss of Rs 2,445 crore during the same fiscal. This is a 22 per cent decrease from the last financial year. The company’s total expenses for the fiscal were reported at Rs 45,801 crore.

Another subsidiary firm, Flipkart Internet reported a 28 per cent jump in its revenues for FY21 at Rs 8,115 crore, a 28 per cent jump YOY. The company further reported a net loss of Rs 2,881 crore during the same fiscal. This is 49 per cent increase from the last financial year. The company’s total expenses for the fiscal were reported at Rs 10,996 crore.
 
Both Amazon and Flipkart have been able to capture more than 80 per cent of the aggressively growing e-commerce industry of India which generated $9 billion sales during the last year’s festive season, as per a Redseer report.