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Amazon India reported a narrowing of its net loss to Rs 3,470 crore for the fiscal year 2024, a significant improvement compared to previous financial results. The company's revenue increased by 14%, reflecting a robust performance in its e-commerce operations. Amazon Seller Services, a key segment of the business, achieved a 24% growth in advertising revenues, totaling Rs 6,649 crore. Overall, the operating revenues for Amazon's flagship e-commerce unit rose by 14%, in contrast to a modest 3.4% growth in the previous fiscal year. The results indicate a positive trend for Amazon India as it continues to enhance its market position amidst growing competition in the sector.
Good morning! ☀️ These are the top tech, startup headlines on ETtech today: ■ Rs 9k-crore bonanza for @Swiggy employees ■ Crackdown on pro-Khalistan content ■ @MyNykaa Q2 financials ■ SoftBank's Rajeev Misra to exit ■ New fund launches https://t.co/sbafQEFbM4
Times of India @timesofindia: Government mulls 5% cut in electronics imports to boost domestic production from FY25: sources. #aiact #ArtificialIntelligence #MachineLearning https://t.co/uYLra4oMrf
ETtech Top 5 | #Swiggy’s Rs 9,000-crore Esop windfall; #SoftBank’s Rajeev Misra to exit Also in the letter: ■ @MyNykaa Q2 financials ■ Behind #Bitcoin’s record rally ■ How mid-sized #IT firms use AI https://t.co/MEvkL8M7qw