According to a financial performance report released by Tofler, online retail company Cloudtail India lost roughly Rs522 crore in 2021—2022.
The joint venture (JV) company founded by NR Narayana Murthy, the founder of Infosys, and Amazon reported a profit of Rs182.7 crore in 2020—21.
Murthy’s Catamaran, which owned 74% of the Prione Business Services that administered the JV, opted to end it in August of last year, and the JV was dissolved as a result.
Through the e-commerce platform of Amazon India, Cloudtail offered products from third parties online.
In FY 2021, the company reported total revenue of Rs1,663.9 crore.
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