India : Ebay India FY16 net sales up 200% but losses widen 52%

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Home / Knowledge / News / Apparel/Garments / Ebay India FY16 net sales up 200% but losses widen 52%

Ebay India FY16 net sales up 200% but losses widen 52%

29
Dec '16

Courtesy: Ebay

Net revenue at Ebay India, the Indian arm of US based online retailer Ebay jumped nearly 200 per cent over a fiscal ago period, to Rs 392 crore in fiscal 2016. However, despite several cost cutting programmes, net loss at the Indian online retailer expanded 52 per cent to Rs 262 crore in the fiscal under review as against Rs 172 crore in the prior fiscal.

Ebay was one of the earliest entrants in the Indian ecommerce space, when it started operations by acquiring baazee.com, an online auction platform.

Earlier this year, Morgan Stanley Research revised its estimates of the Indian ecommerce market and has now projected it to reach $119 billion by 2020, compared to the earlier forecast of $102 billion. (AR)

Fibre2Fashion News Desk – India

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