Amazon Seller Services, Amazon’s marketplace operator in India, has managed to pull off quite a balancing act, posting a 19% year-on-year increase in revenue for the fiscal year ended March 31, 2025, while also sharply reducing its net loss.
The company reported revenue of Rs 30,139 crore, compared with Rs 25,406 crore a year earlier. Marketplace services contributed Rs 17,328 crore, or 58% of total operating revenue, while additional services such as advertising and logistics added Rs 8,342 crore. Related-party services accounted for Rs 4,468 crore.
Net loss narrowed 89% to Rs 374.3 crore from Rs 3,469.5 crore in FY24, aided by stronger cash flows, higher revenue recognition, and tighter spending discipline.
Total expenses amounted to Rs 30,865.5 crore, including delivery charges of Rs 8,336.7 crore. Professional services fees stood at Rs 3,794.7 crore, while advertising, communications and payment processing also remained significant. These costs, however, grew more slowly than revenue, reflecting efforts to rein in promotions and improve logistics and outsourcing efficiency.
The results were visible in operating performance: the company swung to a pre-depreciation profit of Rs 2,747 crore from a loss the year before. Depreciation and amortisation of Rs 3,121.5 crore, tied to investments in digital content and infrastructure, kept the company in the red.
Stripped of those non-cash charges, operations generated Rs 5,062 crore in cash flow. Year-end liquidity was strong with Rs 4,658.7 crore in cash and equivalents, while capital expenditure reached Rs 2,762.9 crore, directed mainly toward technology, content, and infrastructure.
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Amazon India also made some changes to the board during FY25, including the departures of directors Kandula Raghava Rao and Vinod Mathews. Saurabh Srivastava was appointed in July and later confirmed as Whole-Time Director for a five-year term, joining Vivek Somareddy in anchoring the company’s leadership. The reshuffle comes as the business prepares for a proposed merger with Amazon Transportation Services.
The company also disclosed Rs 35,901.1 crore in unrecognised tax assets, including loss carryforwards and deductible differences, which could provide future benefits if profitability becomes consistent.
At the same time, Amazon Seller Services faces ongoing tax disputes amounting to about Rs 2,085 crore, mainly tied to contested GST and service tax claims. These cases, which the company has partly deposited under protest, reflect common disagreements in India’s evolving tax regime. Management said it does not expect the disputes to materially affect its financial position, citing strong cash reserves and parent company support.
Edited by Kanishk Singh
