Cloudtail India, a joint venture between Amazon.com and NR Narayana Murthy’s Catamaran Venture, posted a net profit of Rs 1.59 crore for the year ended March 2017, according to filings with the Registrar of Companies (RoC) and documents sourced by business research platform Paper.VC. In FY16, the retailer had posted a net loss of Rs 30.25 crore. Cloudtail, one of the largest sellers on Amazon India, posted a 24% increase in revenue from operations to Rs 5,688.7 crore in FY17, against Rs 4,586.9 crore a year back.
However, employee benefit cost for the company increased threefold to Rs 71 crore in FY17, from Rs 18.2 crore in FY16. Total expenses rose 24% to Rs 5,732.9 crore in FY17.
Facing OTT heat, DTH operators seek pricing freedom; urge Trai for telecom sector-like forbearance
Q4 Results 2024: Tata Consumer Products, ICICI Prudential Life Insurance, and more to announce earnings today
ITC Hotels makes first overseas check-in with Colombo property
Soaring house rents push rental yields to five-year high of 4.5%
