Dec 2, 2023

Amazon top seller Appario’s revenue dips 8% in FY23 Appario Retail–the largest seller on Amazon India–has reported an 8% drop in revenue for FY23 at Rs 14,604.2 crore, reflecting a slowdown on Amazon’s ecommerce marketplace in the country. Appario Retail reported a marginal rise in profit for FY23 at Rs 84 crore against Rs 82 crore in FY22, according to its regulatory filings with the registrar of companies sourced from business intelligence platform Tofler. Elevate Your Tech Prowess with High-Value Skill Courses Offering College Amazon Seller Services , which runs the India marketplace, had recorded a muted 3.4% growth in revenue for FY23 at Rs 22,198 crore while its losses expanded by 33% to Rs 4,854 crore. In FY22, the same entity had reported a 32% growth in operating revenue and reduced its losses by 23%. “While both Flipkart and Amazon India are still loss making, the nearly flat growth in topline is a clear indication of slowdown in growth,” a senior ecommerce industry executive said. Operating revenue of Appario – a joint venture between Amazon and Patni group – is a crucial indicator of Amazon’s growth in India. Appario sells products across electronics, appliances and other top grossing segments on the marketplace. Discover the stories of your interest An email sent to an Amazon India spokesperson did not elicit any response on Appario financials and its implications on Amazon India business. ET reported on November 24 that Amazon is considering options to let Appario Retail continue to sell on the platform, reversing an earlier decision to shut it down because latest FDI rules restrict marketplaces from holding stake in seller entities. However, continuity of operations of Appario could be crucial for Amazon to get back to a faster rate of growth. Shutting Cloudtail – which was one of the largest sellers on the platform and was part-owned by Amazon – last year had disrupted its operations. Amazon has faced hurdles while trying to transition from reliance on Cloudtail to other seller entities run by different promoters even when most of them were being run by former Amazon or Cloudtail executives.