Amway India loss doubles to Rs 52.78 crore in FY’24, sales flat at Rs 1,283.7 crore – Times of India-OxBig News Network

NEW DELHI: Direct seller Amway India Enterprises has reported widening of net loss to Rs 52.78 crore, while revenue from operations, stood at Rs 1,283.75 crore in FY’24. Its total income, which includes other income, was marginally up 0.7 per cent to Rs 1,293.97 crore for the financial year ended March 31, 2024, according to the RoC filing by the company.
Amway India had reported a net loss of Rs 21.72 crore and revenue from operations was at Rs 1,278.69 crore a year before, for the financial year ended March 31, 2023, according to financial data accessed through the business intelligence platform Tofler.
The ‘advertising promotional expenses’ in FY’24 were down 25.5 per cent to Rs 61.03 crore, as against Rs 81.93 crore a year ago.
However, the royalty paid to its US-based parent firm was up 4.06 per cent to Rs 65.74 crore in FY’24. This ‘cost royalty’ was at Rs 63.17 for the financial year ended on March 31, 2023.
Amway India Enterprises is a wholly-owned subsidiary of Ada, Michigan, US-based Alticor Global Holdings Inc., which is one of the largest direct-selling companies in the world.
An e-mail sent to Amway India Enterprises remained unanswered at the time of filing of the story.
Total expenses of Amway India Enterprises were at Rs 1,347.37 crore, down 1.64 per cent in FY’24.
In FY’24 Amway India’s revenue from ‘Nutrition and Wellness’ was at Rs 782.40 crore, up marginally as against Rs 779.75 crore a year ago.
However, its revenue from ‘Personal Care’ and ‘Home Care’ were down at Rs 219.04 crore and Rs 123.57 crore, respectively.
Similarly, its revenue from the ‘Beauty’ segment was down almost 13 per cent to Rs 109.76 crore. This was at Rs 126.14 crore a year ago in FY’23.
Its revenue from ‘Cookware’ and ‘Atmosphere Drive’ was down over 50 per cent to Rs 8.17 crore and Rs 3.78 crore respectively.