Amazon Now and Fresh: Rs 1,158 Cr loss, $3 Bn reported

Amazon Retail, the entity that runs Amazon Now and Amazon Fresh, reported FY26 revenue from operations of Rs 3,065 Cr, up nearly 50 per cent from Rs 2,051 Cr. Entrackr published the numbers on 24 September 2026 from standalone financial statements filed with the Registrar of Companies. Other income of Rs 15 Cr took total revenue to Rs 3,080 Cr.

Expenses are the story. Procurement of materials rose nearly 65 per cent to Rs 2,887 Cr, about 68 per cent of the total. Delivery charges were Rs 529 Cr, platform fees Rs 248 Cr and legal expenses Rs 442 Cr. Total expenses rose 71.8 per cent to Rs 4,239 Cr from Rs 2,468 Cr, so the arm spent about Rs 1.38 to earn each rupee of revenue. Net loss went to Rs 1,158 Cr from Rs 394 Cr. EBITDA was negative Rs 1,136 Cr, a margin of minus 37.06 per cent, which checks out against revenue. Two derived figures do not. Entrackr calls the loss more than 3X, where we calculate 2.9 times, and puts gross margin at 5.08 per cent, where the stated revenue and procurement give 5.8 per cent.

Now the other half. Inc42 reported on 25 September 2026 that Amazon India plans to invest $3 Bn, which Inc42 converts to Rs 28,790 Cr, in Amazon Now by 2030: $1 Bn by the end of 2027 and $2 Bn more after that, for dark stores, inventory software, demand forecasting and a wider range. That is Reuters reporting from unnamed sources, not an Amazon announcement. The last figure Amazon itself put on record was Rs 2,800 Cr, stated in April by vice president of operations Abhinav Singh in a blog post. Those are two different classes of evidence.

The operating detail: about 750 quick commerce stores now, roughly 1,300 targeted by April 2027, and a stated focus on daily essentials rather than phones. Amazon says the business has crossed $1 Bn in annualised gross sales in the past three months. Per the Reuters report, Amazon holds 6.2 per cent of the market against 77 per cent for Blinkit, Swiggy and Zepto combined.

For brands the read is timing. A thin gross margin and a loss this size say the shelf you are being invited onto is subsidised. Get listed while customer acquisition is the priority, then build FY28 terms that look like the ones the leaders give today.