Cloudtail India, a joint venture between Narayan Murthy and Amazon India, lost INR 522 crore in the fiscal year ending March 2022.
Profits for the online retailer in previous fiscal years were INR 182.7 Cr (in FY21), INR 67.54 Cr (in FY20), and INR 29.4 Cr (in FY19). According to the Tofler report, Cloudtail had total revenue of INR 19,090 Cr (an increase of 15% year on year) and total expenses of INR 19,573 Cr (an increase of 20% year on year). This period also coincides with the dissolution of Cloudtail. The time frame also coincides with Cloudtail’s dissolution, and the lower employee cost suggests that the etailer had already begun streamlining its operations.
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Cloudtail India, a joint venture between Narayan Murthy and Amazon India, lost INR 522 crore in the fiscal year ending March 2022.
Profits for the online retailer in previous fiscal years were INR 182.7 Cr (in FY21), INR 67.54 Cr (in FY20), and INR 29.4 Cr (in FY19). According to the Tofler report, Cloudtail had total revenue of INR 19,090 Cr (an increase of 15% year on year) and total expenses of INR 19,573 Cr (an increase of 20% year on year). This period also coincides with the dissolution of Cloudtail. The time frame also coincides with Cloudtail’s dissolution, and the lower employee cost suggests that the etailer had already begun streamlining its operations.
Disclaimer
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
