Amazon Internet Services posts net loss of Rs 20 lakh in FY20, revenue rises 58% to Rs 4,216 crore
BusinessToday.In December 17, 2020
Amazon Internet Services Private Limited (AISPL), an Indian subsidiary of the US-based Amazon Group, has reported a net loss of Rs 20 lakh in the financial year ended March 30, 2020 (FY20). The company had posted net profit of Rs 71.1 crore in FY19, according to a Registrar of Companies filing.
AISPL, which undertakes the resale and marketing of AWS Cloud services in India, has registered nearly 58 per cent jump in its total revenue at Rs 4,215.9 crore for the financial year 2019-20 (FY20), helped by increased usage of cloud and other related services by existing and new customers in India. It had posted total income of Rs 2,637.2 crore in FY19, as per regulatory documents shared by market intelligence firm Tofler.
"The company revenue from continuing operations increased to Rs 4,161.6 crore from Rs 2,637.2 crore. The revenue growth in AISPL is primarily attributable to increased usage of cloud and other related services by existing and new customers in India," the filing said.
Engaged in rendering cloud-related and marketing services, AISPL reported a profit before tax of Rs 37.6 crore as compared to Rs 137.8 crore a year ago.
The revenue from cloud-related services stood at Rs 4,005.5 crore, while the company earned Rs 156.1 crore from marketing services.
As per the filing, the cloud-related services consisted of amounts earned from sales of compute, storage, database, and other cloud-related service offerings (including training) for start-ups, enterprises, government agencies, and academic institutions in India. Marketing services, on the other hand, comprise of amounts earned from general marketing and promotional services provided to Amazon Web Services, Inc., a group company.
By Chitranjan Kumar with PTI inputs