The Chinese e-commerce giant Alibaba posted an attributable net profit of 61,959 million yuan (8,677 million euros) in its 2021 financial year, which ended last March, which means a 59% reduction in the profits recorded in the year precedent, as reported by the company.
The group’s turnover during the year grew to 853,062 million yuan (119,463 million euros), 19% more; while the multinational’s operating margin fell to 8% from 13%.
By business segments, Chinese trade continued to be the bulk of the multinational’s turnover, with 592,705 million yuan (83,002 million euros), 18% more. On its side, international trade grew by 25%, to 61,078 million yuan (8,553 million euros); while revenue from cloud services reached 74,568 million yuan (10,442 million euros), 23% more.
Regarding the last quarter of its fiscal year, between the months of January and March 2022, Alibaba registered losses of 16,241 million yuan (2,274 million euros), compared to the ‘red numbers’ of 5,479 million yuan (767 million euros) in the last quarter of the previous year.
Alibaba’s sales in its fourth fiscal quarter reached 204,052 million yuan (28,575 million euros), 9% more than between January and March 2021.
“Looking ahead to fiscal 2023, we will be firmly focused on delivering high-quality, sustainable revenue growth and optimizing our operating cost structure to improve overall performance amid these uncertain times,” said Toby Xu, CFO of Alibaba Group.
