Myntra net profit jumps 18-fold as fashion ecommerce gains momentum

Flipkart-owned retailer posts ₹548 crore profit amid intensifying competition in India's digital fashion market

Flipkart-owned online fashion retailer Myntra reported an 18-fold surge in net profit for the financial year ended March 2025, signaling continued strength in India's digital fashion market.

 

The Bengaluru-based company's net profit jumped to Rs 548 crore from Rs 31 crore in the previous financial year, according to financial statements filed with the Registrar of Companies (ROC). Operating revenue grew 18 per cent to Rs 6,043 crore, while total expenses rose at a more modest 12 per cent to Rs 5,724 crore from Rs 5,123 crore a year earlier.

 

The profit surge was partially aided by a deferred tax credit of Rs 135 crore for FY25.

 

 

Myntra turned profitable in FY24, when it reported a profit of Rs 30.9 crore, marking a significant turnaround from a loss of Rs 782.4 crore in FY23. 

 

The strong performance comes as India's fashion e-commerce sector faces intensifying competition from quick-commerce platforms and social commerce players. Myntra, acquired by Flipkart in 2014, competes with players such as Nykaa and Reliance Retail's Ajio.

 

Myntra received a funding infusion of Rs 1,062.5 crore from its parent company, FK Myntra Holdings, which is based in Singapore, in May. This funding, which followed previous injections in 2024, support Myntra's growth initiatives. These include its foray into the international market with the launch of Myntra Global and the growth of its rapid delivery service, M-Now.  

 

As reported by Business Standard, Flipkart Internet, the marketplace arm of e-commerce giant Flipkart, reported revenue of Rs 20,493 crore in FY25, a 14 per cent increase over the previous financial year. Net losses narrowed 37 per cent to Rs 1,494 crore, according to regulatory filings with the ROC. The revenue growth marks a slowdown from the 21 per cent rise in FY24. The company had posted more than 20 per cent growth in each of the two preceding years.

 

Flipkart generates income primarily from marketplace operations, logistics services, and advertising.

 

Flipkart, headquartered and operating in India, is also relocating its holding company from Singapore to India. The Walmart-owned firm, valued at around $36 billion, is preparing for an initial public offering (IPO) within the next 12–15 months, according to sources.