Myntra, the Flipkart-owned fashion e-commerce marketplace, has reported a sharp turnaround in its financial performance for FY25, posting a consolidated net profit of Rs 548.3 crore, compared to just Rs 30.9 crore in FY24 — a jump of more than 1,674 percent year-on-year (YoY), filings made with the Registrar of Companies (RoC) showed.
The surge in profitability came on the back of higher revenues and tighter cost controls, particularly in employee expenses.
The fashion e-tailer saw its consolidated revenue from operations rise 18 percent YoY to Rs 6,042.7 crore in FY25, up from Rs 5,121.8 crore in FY24. The company generates income primarily from logistics, its marketplace business, and advertising services.
Other income, primarily from royalties, also grew 81 percent, reaching Rs 94.3 crore from Rs 51.9 crore.
On the expense side, Myntra reported total costs of Rs 5,723.7 crore in FY25, an increase of 11 percent from Rs 5,123 crore in FY24.
Direct expenses, which include logistics, procurement, and platform operations, rose 7 percent to Rs 2,139.4 crore in FY25 from Rs 1,996.4 crore. Other expenses — covering advertising, technology infrastructure, and administrative costs — expanded to Rs 2,710.1 crore from Rs 2,234 crore.
Notably, employee benefit expenses declined 7 percent to Rs 748.8 crore in FY25 from Rs 800 crore in FY24, providing a cushion to the cost base. Finance costs increased 66 percent to Rs 99.8 crore, while depreciation and amortisation dropped 19 percent to Rs 25.6 crore.
The improved financials come at a time when Flipkart is doubling down on investments in its fashion arm. Myntra, in May, received a $125 million boost from its Singapore-based parent FK Myntra Holdings, signalling a parallel push to dominate fashion commerce.
At the same time, Walmart – which owns both Flipkart and Myntra in India – has also been injecting capital into the e-commerce firm.
At the same time in May, Flipkart Internet, the marketplace arm, raised Rs 2,225 crore (around $262 million) from its Singapore-based parent, its fourth internal funding round in just over a year. Previous infusions include Rs 3,250 crore in April, Rs 1,421 crore in April 2024 and Rs 950 crore in March 2024, Moneycontrol reported earlier.
The results highlight Myntra’s ability to scale revenues in India’s online fashion market while keeping a tighter lid on costs, helping it deliver its strongest bottom-line performance to date.
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