Myntra, an online fashion and cosmetics shop owned by Flipkart, saw an approximately 18-fold increase in net profit for the fiscal year ending March 2025, from Rs. 31 crore (US $ 3.51 million) in FY ’24 to Rs. 548 crore (US $ 62 million), according to the company’s financial data received from the Registrar of Companies (RoC). The company’s operating income rose by 18% to Rs. 6,043 crore (US $ 685 million), but because expenses grew more slowly, net profit rose as well. The company recorded total expenses of Rs. 5,724 crore (US $ 649 million), a 12% rise from Rs. 5,123 crore (US $ 580 million) the previous year. However, Myntra’s earnings surge was caused by the Rs. 135 crore (US $ 15.30 million) deferred tax credit for FY ’25.
With a net profit of Rs. 30.9 crore (US $ 3.41 million) in FY ’24, Myntra made its first profit; this was a considerable improvement over the company’s net loss of Rs. 782 crore (US $ 88.67 million) in FY ’23. In addition to Reliance Retail’s Ajio in the fashion and lifestyle sector, Myntra faces competition from companies such as Nykaa in the online beauty and fashion market. In May, the business’s parent company, FK Myntra Holdings, based in Singapore, provided it with new investment of Rs. 1,062.5 crore (US $ 124 million). In earlier rounds, parent company Flipkart invested US $ 339 million in March 2024 and US $ 81 million in November 2024 in the online apparel retailer.
In order to serve the Indian diaspora in Singapore, Myntra introduced Myntra Global, a new platform that offers fashion and Made-in-India goods, earlier in May. However, earlier this month, the online clothes retailer, which had previously launched in Bengaluru, Mumbai and Delhi-NCR, extended its speedy delivery division, M-Now, to Hyderabad. Walmart International’s gross profit rate decreased in the June quarter as a result of growing investments in Myntra and Flipkart’s speedy delivery services.
