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 FY24.
Its total income, which includes other income, was marginally up 0.7 per cent to Rs 1,293.97 crore in the financial year ended March 2024, according to the RoC (Registrar of Companies) filing by the firm. Amway India had reported a net loss of Rs 21.72 crore and revenue from operations at Rs 1,278.69 crore a year ago, according to financial data accessed through business intelligence platform Tofler. The ‘advertising promotional expenses’ in FY24 were down 25.5 per cent to Rs 61.03 crore in FY24, as against Rs 81.93 crore a year ago.
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. A company spokesperson in a statement said: “Like any organization pursuing its growth journey. Amway India too has gone through challenges that impacted its business, but we are progressing according to our plans.”
Amway India holds an important position as a business market for Amway globally. We are positive about its future in India with a focus on health and well-being, the spokesperson said, adding that the direct seller is “committed” to the Indian market.
(Source: PTI)
