Amazon Transportation Services has reported a positive growth in its revenue during the fiscal year ending March 2024. Consequently, the company has also reduced its losses by over 6% during the same period.

Furthermore, AmazonTransport Services also known as ATS saw revenue from operations which grew 7.6 percent from Rs 4,543.3 crore in FY23 to Rs 4,888.9 crore in FY24. Its standalone financial statement is sourced from Tofler shows.

Apart from operational income, ATS’s other income has also spiked 66 percent to Rs  57.3 crore in FY24 from Rs 34.5 crore in the previous fiscal year; hence bringing the total income for FY24 to Rs 4,946.2 crore.

In addition, supporting Amazon's e-commerce operations, Amazon Transportation Services provides logistics and delivery solutions. Its services comprise order pickup, sorting, and last-mile delivery across India, wherein, it makes money via offering aforementioned services to Amazon India.

The company’s total expenses excluding depreciation stood at Rs 4,690.8 crore in FY24 from Rs 4,310.2 crore in FY23, marking an 8.8% rise. Depreciation expenses, however, decreased by 10.2%, standing at Rs 313.7 crore for FY24, down from Rs 349.4 crore in FY23.

ATS managed to reduce its losses by 6.3% to Rs 80.3 crore in FY24 from Rs 85.7 crore in FY23. Also to note, its outstanding losses reached Rs 469.8 crore as of the end of FY24. Other equity components which include the share-based compensation reserve, witnessed an upsurge of 26 percent to Rs  Rs 490.4 crore in the last fiscal year.

While ATS’s parent company, Amazon Corporate Holdings has continued to support its operations. However, despite YoY revenue growth, the persistent losses indicate ongoing challenges in reaching profitability.

Amazon India (through transport services) has expanded its partnership with Indian Railways, increasing from a single train in 2019 to over 120 trains by 2024 In the past five years. Currently,  it covers 130 intercity routes across 91 cities.