Amazon India’s marketplace has continued to outpace its competitor, Flipkart, in terms of revenue generation, posting Rs 25,406 crore in revenue for FY24. This represents a 14.5% growth compared to the Rs 22,198 crore reported in FY23. The company also registered an adjusted EBITDA of Rs 588.6 crore, signaling improved profitability despite ongoing challenges.
A significant portion of Amazon India’s revenue—82.4%—came from marketplace services, while the remaining came from platform services, marketing, and royalty revenues. The total income, including non-operating income of Rs 186.8 crore, reached Rs 25,592.8 crore in FY24.
However, the company’s expenditure saw increases, with delivery charges rising by 9.1% to Rs 7,487.9 crore, making up 25.8% of total costs. Other key expenses included sales promotions and legal/professional costs, each forming around 12% of total expenses. Employee benefits also accounted for a significant portion, with a total of Rs 2,771.2 crore spent, which includes Rs 682.7 crore in ESOP costs.
Despite these rising costs, Amazon India managed to reduce its losses by 28.5% to Rs 3,469.5 crore in FY24, compared to Rs 4,854.1 crore the previous year. Operating cash flows turned positive, amounting to Rs 724.1 crore, compared to a negative cash flow of Rs -1,542.1 crore in FY23.
The improved bottom line is evident in Amazon India’s EBITDA margin, which strengthened to -0.37%. At the unit level, the company spent Rs 1.14 to earn a rupee of operating revenue in FY24.
In comparison, Flipkart’s marketplace arm reported Rs 17,907 crore in revenue for FY24, a 21% increase year-on-year, and reduced its losses by over 40%, reporting Rs 2,358 crore in losses.
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