Flipkart’s Myntra sees 18-fold profits as fashion e-commerce accelerates
This signifies its continued strength in India’s apparel industry
Bengaluru-based online fashion retailer Myntra has reported an 18-fold surge in net profit for the FY ended March 2025.
The Flipkart-owned company’s net profit rose to Rs.548 crore from Rs.31 crore in the previous FY. While its operating revenue grew 18 percent to Rs.6,043 crore, the expenses rose at a modest 12 percent to Rs.5,724 crore from Rs.5,123 crore a year ago.
The profits were partially aided by a deferred tax credit of Rs.135 crore for FY25.
From a loss of Rs.782.4 crore in FY 2023, Myntra witnessed a significant turnaround in FY 2024, making a profit of Rs.30.9 crore.
The appreciative performance is meaningful, as India’s fashion e-commerce sector faces stiff competition from quick-commerce platforms and social commerce players.
Myntra, acquired by Flipkart in 2014, competes with Nykaa and Ajio of Reliance Retail.
In May, it received funding of Rs.1,062.5 crore from its Singapore-based parent company, FK Myntra Holdings. The funding followed previous injections in 2024 to support the growth initiatives, including its foray into the international market with the launch of Myntra Global and the growth of its rapid delivery service, M-Now.
Meanwhile, Flipkart Internet, the marketplace arm of e-commerce giant Flipkart, reported a revenue of Rs.20,493 crore in FY 2025, a 14 percent increase over the previous FY. Its net losses narrowed 37 percent to Rs.1,494 crore.
The company’s revenue growth marks a slowdown from the 21 percent rise in FY 2024. In the two preceding years, its growth was over 20 per cent.
The Walmart-owned firm, Flipkart, generates income primarily from marketplace operations, logistics services, and advertising.
The company is relocating its holding company from Singapore to India. Valued at $36 billion, it is preparing for an initial public offering (IPO) within the next 12–15 months.