Amazon India loss up 48%, marketplace loss narrows
The 47.9 per cent jump is a four-entity group total. Amazon Seller Services, the marketplace itself, grew 15.1 per cent and narrowed its loss.
- The Rs 2,792.8 Cr FY26 loss, up 47.9 per cent from Rs 1,888.8 Cr, is the total across four separate Amazon India entities, not the marketplace.
- Amazon Seller Services, the marketplace our clients sell on, grew operating revenue 15.1 per cent to Rs 34,966.8 Cr and narrowed its net loss 4.5 per cent to Rs 389.9 Cr.
- The loss increase sits in Amazon Retail India, the Amazon Now and Amazon Fresh entity we covered on 25 September, at Rs 1,158.3 Cr, and in Amazon Pay at Rs 1,148.5 Cr.
- Inc42 gives no commission, advertising or GMV split, so nothing in the report shows the seller take rate moving.
Inc42 reported on 28 September that Amazon’s India businesses closed FY26 with a cumulative loss of Rs 2,792.8 Cr across all verticals, up 47.9 per cent from a Rs 1,888.8 Cr loss the year before, on operating revenue of Rs 39,144.3 Cr. That headline is a group total. It is not the marketplace.
Amazon India’s business runs as four separate entities, per Inc42: marketplace unit Amazon Seller Services, B2B wholesale marketplace Amazon Wholesale India Services, retail trade arm Amazon Retail India, and fintech arm Amazon Pay. The one our clients sell on is Amazon Seller Services, and it had a better year than the group figure suggests. Its operating revenue rose 15.1 per cent to Rs 34,966.8 Cr while its net loss narrowed 4.5 per cent to Rs 389.9 Cr.
The loss increase sits elsewhere. Amazon Retail India, the entity behind Amazon Now and Amazon Fresh that we wrote about on 25 September, widened its net loss 2.9X to Rs 1,158.3 Cr on a top line of Rs 3,065.1 Cr. Amazon Pay’s net loss rose 32.7 per cent to Rs 1,148.5 Cr on revenue of Rs 2,484.4 Cr, up from Rs 2,096.6 Cr. Amazon Wholesale cut its loss 56.5 per cent to Rs 96.1 Cr while revenue fell 43.4 per cent to Rs 1,693.1 Cr.
Two arithmetic notes, both ours. The four entity losses add exactly to the stated Rs 2,792.8 Cr. The four revenue figures add to Rs 42,209.4 Cr, so the Rs 39,144.3 Cr group revenue excludes Amazon Retail’s Rs 3,065.1 Cr even though the group loss includes Amazon Retail’s loss. Read the revenue line as three entities, not four.
For sellers, the useful part is what is missing. Inc42 lists what Amazon Seller Services earns from, third-party seller services, subscriptions, advertising and other marketplace services, logistics and transportation, and marketing support, but publishes no split and no GMV. Nothing here shows the seller take rate moving. Inc42 also reports that Amazon folded logistics subsidiary Amazon Transport Services into Amazon Seller Services under a scheme of amalgamation, without saying whether that changed the FY26 comparison, and attributes the wider group loss to heavier expenses without giving an expense figure. It does not name the filing the numbers come from.
Zane’s analysis draws on original reporting by Inc42. Read the original report.