Cloudtail sees profit jump 130% in FY20

Cloudtail, one of the largest sellers on Amazon India, saw its revenue grow 28% to Rs 11,413 crore in the year ended March 2020, according to registrar of companies (RoC) filings sourced from business intelligence platform Tofler. Net profit jumped 130% to Rs 68 crore.

For Cloudtail, a joint venture between Amazon and Infosys co-founder Narayana Murthy’s Catamaran Ventures, this is the third year in a row for profit. Its spending went up 23% to Rs 10,511 crore in the year. Following changes ordered by the government, Amazon had to reduce its stake in Cloudtail from 49% to 24%.