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Amazons aggressive spending in India doubles losses to Rs 3,572 cr in FY16

Amazon’s losses in India more than doubled to Rs 3,572 crore during the twelve months that ended March 2016 as it stepped up its investments to dethrone local rival Flipkart as the top retailer in the country. The Seattle-based e-commerce platform’s losses in India jumped up from Rs 1,724 crore in the year ago period, while revenue more than doubled to Rs 2,275 crore, up from Rs 1,022 crore in financial year 2014-15. The figures are from documents filed with the Registrar of Companies reviewed by Livemint.

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