Cloudtail India posts Rs 522 cr loss in 2021-22

The companys total expenses for the fiscal were reported as Rs 19,573 crore, Tofler report said.The company had posted a total income of Rs 1,663.9 crore in FY 2021.


PTI | New Delhi | Updated: 28-09-2022 20:56 IST | Created: 28-09-2022 20:56 IST
Cloudtail India posts Rs 522 cr loss in 2021-22
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Online retail firm Cloudtail India has posted a loss of about Rs 522 crore in 2021-22, according to a financial performance report shared by Tofler.

The joint venture (JV) firm between Infosys founder NR Narayana Murthy and Amazon had posted a profit of Rs 182.7 crore in 2020-21.

The JV was dissolved after Murthy's Catamaran, which held a 74 per cent stake in the Prione Business Services that operated the JV, decided to discontinue it in August last year.

Cloudtail sold third party products online through Amazon India e-commerce platform.

''Cloudtail India Private Limited, an e-commerce firm, reported its revenues for the financial year 2021-22 as Rs 19,090 crore, a 15 per cent jump since the last financial year. The company further reported a net loss of Rs 522 crore during the same fiscal. The company’s total expenses for the fiscal were reported as Rs 19,573 crore,'' Tofler report said.

The company had posted a total income of Rs 1,663.9 crore in FY 2021.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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