Amazon India reports revenue growth and reduced losses in fiscal year 2024

Amazon India reported moderate revenue growth and reduced losses in fiscal year 2024. Amazon Transportation Services' revenue rose 7.6% to ₹4,889 crore, with losses decreasing to ₹80 crore from ₹86 crore the previous year. Amazon Wholesale's revenue fell slightly to ₹3,577 crore, while its net loss improved to ₹342 crore from ₹612 crore. This unit scaled back operations due to stricter foreign investment regulations. Amazon Pay's revenue increased to ₹2,286 crore, and its net loss narrowed to ₹911 crore from ₹1,494 crore. The service processed over 7 crore UPI transactions, becoming the seventh largest player in India.