Amazon cloud business grew 54% in India in FY20

Amazon Internet Services, the Indian unit of cloud computing provider Amazon Web Services, reported a 54% jump in revenue to Rs 4,216 crore in fiscal year 2020, regulatory filings sourced by business intelligence platform Tofler has revealed.

The company reported a net loss of Rs 20 lakh during the financial year. Total expenses were at Rs 4,178 crore.

The company, which is in the business of data processing, hosting and related activities, is the Indian subsidiary of the Amazon Group that resells and markets A WS Cloud services in India.

AWS and rivals such as Google Cloud and Microsoft Azure are expanding in India as startups and traditional companies increasingly adopt cloud services to build and scale their business.

Amazon Internet Services saw revenue from continuing operations jump to Rs 4,161.6 crore from Rs 2,637.2 crore, primarily on account of usage of cloud and other related services by existing and new customers in India.

Puneet Chandok was appointed whole-time director of the company with effect from November 2019, the filings showed.

Last month, Amazon Web Services agreed to invest about Rs 20,761 crore ($2.77 billion) to set up a cluster of data centres in Telangana, according to the state’s information technology minister KT Rama Rao, marking the largest foreign direct investment in the southern state.

AWS confirmed the establishment of multiple data centres — termed as a cloud region — in Hyderabad, which will be its second in India after Mumbai. The move is aimed at helping the Jeff Bezos-led company lure more local and global services firms to host applications on its cloud facilities while fending off increased competition from rivals Google Cloud, IBM Cloud and Microsoft Azure.

Amazon cloud business grew 54% in India in FY20 Amazon cloud business grew 54% in India in FY20 Reviewed by TechCO on 12/17/2020 Rating: 5

No comments:

ads 728x90 B
Powered by Blogger.