your password has been reset successfully, Please login again.

Amazon Focused on Indian Market despite Loss in Q2

Amazon stay commited to invest in Indian market to compete with its rival Flipkart.
BY BEx Bureau
BusinessEx
Jul 29, 2017

Amazon net profits dipped 77% to Rs 1,264crore in June, this effect occurred majorly due to wider losses in international operations. But it still remains committed to investing in India.

Amazon's operating losses in its international business enhanced to $724 million in June 2017 quarter against a loss of $135 million in the year-ago period.

On the other hand, its revenues rise close to 25% to $37.5 billion. Also, operating income of Amazon's North America business fell 38%, while that of Amazon Web Services (AWS) rose 27%.

Amazon Chief Financial Officer Brian T Olsavsky said in an investor call, "we continue to invest in India. We are very hopeful with the progress we have made with sellers and customers alike in India and we see great momentum and success there, so we continue to invest and we have some of our best people in that business,"

He further said: "we continue to invest in, as I said, fulfilment capacity and logistics services, digital video in India, the build-up of the AWS infrastructure, all the things I mentioned not to mention Prime Now and Amazon Fresh and Prime benefits."

The e-commerce giant is locked in intense battle with Flipkart in India. To be the best e-commerce service provider in India, Amazon has been aggressively investing in its units here.

Since the beginning of this year, it has pumped in $600 million (Rs 3,800 crore). It had committed investments worth $5 billion to the Indian market last year.

Amazon India, which has recently completed four years of operations, has been directing its investments towards building warehouses, strengthening logistics, increasing product assortment and marketing to capture more consumers in India.

In April, Flipkart had raised $1.4 billion in funding from Tencent, eBay and Microsoft. It is also believed to be in discussions to buy a smaller rival, Snapdeal that is expected to further intensify the battle. ET reported.

Please add your Comment
SIMILAR News
March 20, 2019
The South Korean automotive companies, Hyundai Motors and Kia Motors on Tuesday proclaimed that they ...More
By Jaspreet Kaur
March 20, 2019
On Wednesday’s morning, the shares of the IT sector are trading in the positive spectrum. ...More
By Jaspreet Kaur
March 16, 2019
The smartphone maker, Xiaomi has taken this decision in order to surge the sales ...More
By Jaspreet Kaur
March 16, 2019
Reliance Jio Infocomm Limited, a telecommunications company may release 5G services in the latter ha ...More
By Jaspreet Kaur
March 14, 2019
The investing groups along with Softbank Corp and Toyota Motor Corp are deciding on to endow money u ...More
By Jaspreet Kaur
March 14, 2019
The present deal has ruled out adversaries of OYO that are, Treebo Hotels-financed by SAIF Partners ...More
By Jaspreet Kaur
March 13, 2019
With this move, the conglomerate company has incremented 5-10 points in respect of cost that the com ...More
By Jaspreet Kaur
March 13, 2019
The decision has been taken considering the succession planning idea and owing to which, Rahul Bajaj ...More
By Jaspreet Kaur
March 12, 2019
JMC Projects, an Indian Construction and Engineering Company, revealed that it has accumulated contr ...More
By Jaspreet Kaur
March 12, 2019
By launching daycare facility, BOB has become the first bank amid public sector banks to offer this ...More
By Jaspreet Kaur
March 11, 2019
By joining the PSB platform, the private bank, Kotak Mahindra Bank will be rendering loans to MSME e ...More
By Jaspreet Kaur
March 11, 2019
The tech giant is dire in adapting anti-snooping policy that will, in turn, safeguard iPhone users’ ...More
By Jaspreet Kaur