Appario, one of the largest sellers of e-commerce giant Amazon, has registered a total income of Rs 759 crore in the fiscal year ended on March 31, 2018.
According to RoC filing was sourced by paper.vc, Appario has recorded Rs 767 crore and Rs 7 crore as expenditure and loss respectively.
Based out of Bengaluru and started its operation in 2017, Appario is a joint venture between Amazon and Frontizo Business Services, owned by Ashok Patni of software services company Patni Computers.
Patni holds a 51 per cent stake in Frontizo, while Amazon Asia Pacific Holdings holds 48 per cent in the joint venture.
Appario primarily engaged in providing IT enabled support services and trading activities on Amazon India website.
Further, the filing mentioned that the consolidated income for Frontizo was Rs 771 crore, with a loss of Rs 12 crore.
Besides Appario, Cloudtail has been the largest seller for Amazon for past several years. The seller also a joint venture between Amazon Asia and N R Narayana Murthy’s Catamaran Ventures, had become profitable in FY17. It’s yet to file financials for FY18.
The development comes against the backdrop of Amazon slashing seller fee and storage charges.
While all e-commerce players have been upping their ante for the largest share in flagship Diwali sale, their sellers including Cloudtail, Appario, WS Retail among others have been targeted by small sellers for nepotism.
Taking their concern seriously, All India Online Vendors Association (AIOVA) that has approached the Competition Commission of India (CCI) to complain against these favoured sellers.
Meanwhile, to level the playing field in e-commerce, the government is considering disallowing anchor sellers controlled by the platforms to conduct business on them.
The development was reported by ET.
