Amazon Pay Narrows Losses and Boosts Revenue in FY 2024

Fintech company Amazon Pay (India) reduced its losses to INR 911.2 crore for FY 2024, improved from INR 1,499 crore in FY 2023, and increased revenue by 9.2% to INR 2,286.9 crore. It also issued shares worth INR 1,450 crore to its parent group firms.

Amazon Pay (India), a prominent fintech firm, has successfully narrowed its financial losses to INR 911.2 crore in the fiscal year 2024. This marks a significant improvement from its previous year's loss of INR 1,499 crore.

In addition to reducing losses, Amazon Pay reported a commendable increase in its revenue from operations. The company's revenue rose by 9.2% to reach INR 2,286.9 crore in FY 2024, compared to INR 209.31 crore in the prior fiscal year.

The financial year also saw Amazon Pay issuing shares worth INR 1,450 crore to its parent group firms, as detailed in a report by Tofler.

(With inputs from agencies.)