Image Source: Moneycontrol
Myntra Designs Private Limited, the online fashion and lifestyle e-commerce platform owned by Flipkart, has posted a remarkable financial performance for the fiscal year ending March 2025 (FY25). The company reported a standalone net profit of ₹548.3 crore, soaring nearly 18 times from ₹30.9 crore in FY24, marking a significant turnaround from previous years' losses. This surge in profitability was powered by an 18 percent increase in revenue from operations and prudent expense management.
Key Highlights of Myntra’s FY25 Performance
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Net profit jumped 1,674 percent year-on-year to ₹548.3 crore from ₹30.9 crore in FY24.
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Revenue from operations rose 18 percent to ₹6,042.7 crore from ₹5,121.8 crore in FY24.
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Revenue streams included logistics services (48.3% contribution), marketplace services (34%), and advertising revenue (15.1%).
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Expense growth was moderated at 11.7 percent, totaling ₹5,723.7 crore.
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Advertising and promotional expenses increased by 37 percent to ₹2,105.3 crore, while employee benefit expenses declined by 6.4 percent.
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Deferred tax credit of ₹137.5 crore significantly boosted the bottom line in FY25.
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Myntra expanded internationally with the launch of Myntra Global in Singapore, catering to the Indian diaspora with Indian fashion and home décor products.
Revenue Growth and Diverse Business Model
Myntra experienced healthy growth across its core revenue segments in FY25. Logistics services emerged as the largest revenue driver, contributing ₹2,918.9 crore, a 19.7 percent jump from the previous year. Marketplace services revenue grew 15.6 percent to ₹2,051.8 crore, reflecting strong consumer traction on Myntra’s platform. Advertising business saw a robust uptick of 28.4 percent to ₹914.5 crore, underscoring Myntra’s growing influence as a marketing platform for brands. This balanced revenue mix highlights Myntra’s well-diversified e-commerce model leveraging logistics, marketplace, and advertising streams.
Cost Management and Profitability Drivers
Myntra’s expenses rose moderately by 11.7 percent despite scaling up operations and marketing. The company curbed employee benefit expenses, recording a 6.4 percent decline, which helped containment of overall costs. Nonetheless, advertising costs surged significantly by 37 percent, reflecting investment in brand-building and customer acquisition. The controlled expense growth contrasted with faster revenue expansion, driving margin improvement. Additionally, a deferred tax credit of ₹137.5 crore amplified the reported net profit, representing a key accounting benefit that bolstered profitability in FY25.
Strategic Expansion and Market Position
FY25 was marked by Myntra’s strategic international expansion with the launch of Myntra Global in Singapore. This platform targets roughly 650,000 Indians living in the country, offering a curated assortment of Indian ethnic wear, fashion, and home décor shipped directly from India with delivery in 4 to 7 days. This move diversifies Myntra’s market beyond India and taps into diaspora demand. Alongside, Myntra continues to compete robustly in India’s competitive fashion e-commerce space against rivals like Nykaa and Reliance Retail’s Ajio. The company’s ability to sustain revenue growth and improve margins signals strong operational execution and a positive outlook.
Conclusion
Myntra’s FY25 financials demonstrate a powerful turnaround story with blockbuster profit growth fueled by rising revenues, diversified income streams, tight cost control, and strategic international outreach. The nearly 18-fold rise in net profit to ₹548.3 crore is a milestone that underscores Myntra’s evolution into a highly profitable fashion e-commerce powerhouse under Flipkart. With continued investments in marketing, logistics, and expansion, Myntra is well-positioned to capitalize on India’s growing fashion market and diaspora opportunities abroad.
Source: Financial filings with Registrar of Companies, Moneycontrol, NDTV Profit, Inc42, The Hindu Business Line
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