Cloudtail India, a joint venture between Narayan Murthy and Amazon India, lost INR 522 crore in the fiscal year ending March 2022.
Profits for the online retailer in previous fiscal years were INR 182.7 Cr (in FY21), INR 67.54 Cr (in FY20), and INR 29.4 Cr (in FY19). According to the Tofler report, Cloudtail had total revenue of INR 19,090 Cr (an increase of 15% year on year) and total expenses of INR 19,573 Cr (an increase of 20% year on year). This period also coincides with the dissolution of Cloudtail. The time frame also coincides with Cloudtail's dissolution, and the lower employee cost suggests that the etailer had already begun streamlining its operations.