Flipkart-owned fashion e-tailer Myntra has logged its second consecutive year of profitability. The company generated a net profit of Rs 548.3 crore in the financial year ended March 2025 (FY25), a jump of nearly 18 times from Rs 30.9 crore in FY24.

Revenue from operations rose 18% to Rs 6,042.7 crore in FY25 from Rs 5,121.8 crore in the previous fiscal year, according to the company’s filings sourced from the Registrar of Companies.

Besides the growth in its top line, the company’s bottom line was also helped by an exceptional gain. The fashion e-commerce platform received a deferred tax credit of Rs 137.5 crore in FY25.

The company’s EBITDA zoomed over 4X to Rs 536.2 Cr during the year under review from Rs 123 Cr in FY24. As a result, its EBITDA margin rose to 9% in FY25 from 2% in the previous year.

How Does Myntra Make Money?

Founded in 2007 by Mukesh Bansal, Ashutosh Lawania, and Vineet Saxena, Myntra began as a B2B platform selling personalised gifts to corporations. Three years later, it transitioned to a B2C fashion ecommerce platform. 

In 2014, Flipkart acquired Myntra, while Walmart bought Flipkart for $16 billion in 2018. 

Myntra primarily derives its revenue from three streams – logistics, marketplace and advertising services. Revenue from logistics services accounted for nearly half of Myntra’s top line in FY25, rising nearly 20% to Rs 2,918.9 crore from Rs 2,439 crore in FY24.

Revenue from marketplace services rose a little under 16% to INR 2,051.8 crore in FY25 from Rs 1,774.6 crore in the previous year, while advertisement revenue surged over 28% to Rs 914.5 crore from Rs 712.3 crore in FY24.

Myntra also generated Rs 157.5 crore from other income sources in FY25, up from Rs 195.9 crore in FY24. The Walmart-owned company reported Rs 94.3 crore from non-operating revenue in FY25, up from Rs 51.9 crore from the previous year, which pushed its total revenue to Rs 6,137 crore in FY25 from Rs 5,173 crore in FY24.

Zooming Into Expenses

Myntra’s overall spending rose at a slower clip than its revenue in FY25. Total expenses grew 10.5% to INR 5,723.7 Cr during the year under review from INR 5,123 Cr in FY24. 

While expenses such as cost of materials, advertising and IT were up, line items such as employee benefit expenses trended lower in FY25 over FY24.

Here’s a breakdown of Myntra’s expenses:

  • Cost of Materials: This was the biggest expense head for the company. The spending under this bucket rose 7% to Rs 2,139.4 crore in FY25 from Rs 1,996.4 crore a year ago.
  • Ad Expenses: Advertising promotional expenses also emerged as a key cost driver. Myntra spent Rs 2,105.3 crore for visibility in FY25, up almost 26% from Rs 1,677.4 crore in the previous fiscal year.
  • Employee Cost: Employee benefits expenses declined 7% to Rs 748.8 crore during the year ended March 2025 from Rs 800 crore in the previous fiscal.

Myntra Profitability In Focus As Flipkart Readies For…


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Last Update: September 16, 2025