The Walmart-owned company Myntra, the fashion-focused e-commerce platform, has crossed Rs. 3,600 crore revenue mark in the fiscal year ending March 2022.
As per report of entrackr.com, the company’s losses increased by 39 per cent to Rs. 597 crore in FY ’22 against Rs. 429 crore reported in FY ’21.
Myntra’s total expenditure also grew by 45.5 per cent to Rs. 4,207 crore in FY ’22 as compared to Rs. 2,891 crore in FY ’21. While the operating revenue and total expenses surged at the same pace, an 83.6 per cent spike in non-operating income helped the company control losses to some extent.
According to the company’s consolidated annual financial statements with the Registrar of Companies (RoC), its operating revenue surged by 45.5 per cent to Rs. 3,501 crore in FY ’22.
Myntra also made Rs. 108.7 crore of non-operating income mainly from services such as royalty income, electronic gift vouchers, sublease revenue and others which pushed its total collections up to Rs. 3,610 crore.
Logistics is the biggest cost centre for the company contributing nearly 40 per cent to the annual expenditure. This cost surged by 57.6 per cent to Rs. 1,680 crore during FY ’22 from Rs. 1,066 crore in FY ’21.
