New Delhi: Direct Sales Agent Amway India Enterprises According to reports, net loss widened to Rs 527.8 crore in FY24, while operating income was Rs 1,283.75 crore. According to the company’s RoC filing, its total revenue, including other income, edged up 0.7 per cent to Rs 1,293.97 crore for the financial year ended March 31, 2024.
According to financial data obtained by business intelligence platform Tofler, Amway India reported a net loss of Rs 217.2 crore and operating income of Rs 1,278.69 crore for the fiscal year ended March 31, 2023 last year.
“Advertising and promotion expenses” fell by 25.5% to Rs 610.3 crore in FY24 as compared to Rs 8,193 crore a year ago.
However, royalties paid to its US parent rose 4.06% to Rs 657.4 crore in FY24. For the financial year ended March 31, 2023, “cost royalties” were Rs 63.17.
Amway India Enterprises is a wholly-owned subsidiary of Alticor Global Holdings Inc., headquartered in Ada, Michigan, USA, one of the world’s largest direct selling companies.
An email sent to Amway India remained unanswered as of the time of filing this article.
Amway India’s total corporate expenses were Rs 1,347.37 crore, down 1.64% in FY24.
In FY24, the revenue of Amway India’s “Nutrition and Health” business was 782.4 billion rupees, a slight increase from 779.75 million rupees a year ago.
However, its revenue from “personal care” and “home care” fell to Rs 219.04 crore and Rs 123.57 crore respectively.
Similarly, revenue from its “beauty” business fell nearly 13% to Rs 109.76 crore. A year ago in FY23, the figure was Rs 12,614 crore.
The revenue of “Cookware” and “Atmosphere Drive” fell by more than 50% to Rs 8.17 million and Rs 3.78 million respectively.
