Revenue during the quarter grew 22.61 percent to $35,714 million from $29,128 million in the previous year period. Gross margin for the quarter expanded 194 basis points over the previous year period to 37.17 percent. Total expenses were 97.19 percent of quarterly revenues, up from 96.32 percent for the same period last year. That has resulted in a contraction of 86 basis points in operating margin to 2.81 percent.

Operating income for the quarter was $1,005 million, compared with $1,071 million in the previous year period.

"Our India team is moving fast and delivering for customers and sellers. The team has increased Prime selection by 75% since launching the program nine months ago, increased fulfillment capacity for sellers by 26% already this year, announced 18 Indian Original TV series, and just last week introduced a Fire TV Stick optimized for Indian customers with integrated voice search in English and Hindi,” said Jeff Bezos, Amazon founder and chief executive officer. “We’re grateful that customers are responding - Amazon.in is the most visited and the fastest growing marketplace in India. It’s still Day 1 for e-commerce in India, and I assure you that we’ll keep investing in technology and infrastructure while working hard to invent on behalf of our customers and small and medium businesses in India."

For the second-quarter, Amazon Com projects revenue to be in the range of $35,250 million to $37,750 million. The company projects operating income to be in the range of $425 million to $1,075 million for the second-quarter.

The company has spent $1,616 million cash to meet investing activities during the quarter as against cash outgo of $693 million in the last year period.

The company has spent $914 million cash to carry out financing activities during the quarter as against cash outgo of $996 million in the last year period.

Cash and cash equivalents stood at $15,440 million as on Mar. 31, 2017, up 23.82 percent or $2,970 million from $12,470 million on Mar. 31, 2016.

Working capital declines
Amazon Com has witnessed a decline in the working capital over the last year. It stood at $2,061 million as at Mar. 31, 2017, down 11.39 percent or $265 million from $2,326 million on Mar. 31, 2016. Current ratio was at 1.06 as on Mar. 31, 2017, down from 1.08 on Mar. 31, 2016.

Cash conversion cycle (CCC) has increased to 40 days for the quarter from 20 days for the last year period. Days sales outstanding were almost stable at 17 days for the quarter, when compared with the last year period.

Days inventory outstanding has decreased to 21 days for the quarter compared with 48 days for the previous year period. At the same time, days payable outstanding went down to 79 days for the quarter from 85 for the same period last year.