Amway India sees losses reach 52.78 crore in FY24 (#1682503)

Direct selling business Amway India saw its net loss more than double to Rs 52.78 crore in the 2024 financial year, up from Rs 21.72 crore in the 2023 financial year. The business’ revenue from operations increased slightly and its other income was also marginally up.

Amway India’s revenue from operations totalled Rs 1,283.75 crore in the 2024 financial year, the Press Trust of India reported, slightly up from its 2023 financial year total of Rs 1,278.69 crore. The business’ total income, including sources other than revenue, reached Rs 1,293.97 crore in the 2024 financial year representing a 0.7% increase from its 2023 total, according to the business’ filing at the Registrar of Companies.
 
The business reduced its advertising and promotional expenses in the 2024 financial year by 25.5% at Rs 61.03 crore compared to Rs 81.93 crore a year prior, India Retailing reported. Amway India’s total royalties paid to its US-based parent company increased by 4.06% to reach Rs 65.74 crore.
 
“We would like to clarify that no royalty has been paid to the parent company in FY 2024, it has only accrued in the books of account of Amway India for FY 2024,” said the business in a statement, the Press Trust of India reported.
 
Amway India’s products range from personal care and beauty goods to health products, according to its Facebook page. The business also has cookware and homeware segments.