Amazon Q2 net profit down 77%; remains committed to India

July 28, 2017 17:39

E-tailing giant Amazon's net profits tanked 77 per cent to USD 197 million (Rs 1,264 crore) in the June quarter hurt by wider losses in international operations, but said it remains committed to investing in India. Amazon's operating losses in its international business widened to USD 724 million (Rs 4,646 crore) in June 2017 quarter against a loss of USD 135 million in the year-ago period. Its revenues, on the other hand, jumped close to 25 per cent to USD 37.5 billion. Operating income of Amazon's North America business fell 38 per cent, while that from Amazon Web Services rose 27 per cent. Despite widening losses, Amazon remains committed to making further investments in India.

« Back to LIVE

TOP STORIES

Phase 3: Over 63% polling amid clashes in Bengal

A voter turnout of 60.19 per cent was recorded till 5 pm in the third phase of Lok Sabha elections in 93 constituencies spread over 11 states and Union Territories on Tuesday with sporadic incidents of violence in West Bengal.

Household savings dip over Rs 9 lakh cr in 3 years

Net household savings declined sharply by Rs 9 lakh crore to Rs 14.16 lakh crore in three years to 2022-23, according to the latest National Account Statistics 2024 of the Ministry of Statistics and Programme Implementation. The net...

NSE, BSE to conduct special trading session on May 18

The National Stock Exchange (NSE) and BSE on Tuesday said they will conduct a special trading session in the equity and equity derivative segments on May 18 to check their preparedness for handling major disruptions or failure at the...

After pulling up Patanjali, SC raps IMA chief on knuckles

Expressing displeasure over Asokan's comments a day before the top court was slated to hear the matter, a bench of Justices Hima Kohli and Ahsanuddin Amanullah sought his response on an application filed by Patanjali Ayurved Ltd.

IPL PIX: Fraser-McGurk, Porel, Stubbs punish Royals!

Images from the IPL 2024 match between Delhi Capitals and Rajasthan Royals.