Flipkart-owned fashion e-commerce giant Myntra reported a remarkable surge in net profit for FY25, jumping nearly 18 times to ₹548 crore from ₹31 crore in FY24. This drastic increase was partly driven by a deferred tax credit of ₹135 crore. Operating revenue rose 18% year-on-year to ₹6,043 crore, while total expenses increased moderately by 12% to ₹5,724 crore.
It’s first profit in FY24 marked a significant recovery from a massive loss of ₹782 crore in FY23, reflecting improved cost control, operational efficiencies, and strong growth across logistics, marketplace, and advertising segments. Employee expenses notably declined by 7%, supporting tighter cost management.
Capital Infusions and Expansion
In May 2025, Myntra secured fresh funding of ₹1,062.5 crore ($124 million) from its Singapore-based parent entity FK Myntra Holdings, following previous infusions of $339 million in March 2024 and $81 million in November 2024. These investments underscore Flipkart’s commitment to scaling its operations and geographic reach, including launching Myntra Global targeting the Indian diaspora in Singapore. The company also expanded its rapid delivery service, M-Now, to Hyderabad, complementing its presence in Bengaluru, Mumbai, and Delhi-NCR.
Enforcement Directorate’s Regulatory Probe on Myntra
Flipkartowned firm is currently under investigation by the Enforcement Directorate (ED) for alleged Foreign Direct Investment (FDI) rule violations amounting to ₹1,654 crore. The ED claims Myntra misrepresented its wholesale cash and carry business model to receive foreign investment while actually conducting multi-brand retail trading through a related entity, Vector E-Commerce Pvt. Ltd., allegedly breaching FEMA regulations. Myntra denies these allegations and has pledged full cooperation with the authorities as the probe continues.
Supporting Made-in-India Brands: Zero-Commission Initiative
In August 2025, It also introduced a zero-commission programme aimed at onboarding 500 women-led ethnic wear brands over three months, aligned with the festive season. This initiative offers brands faster payments, onboarding support, visibility on key app pages, and access to the M-Express delivery network. The move is designed to boost visibility and sales of Indian-made brands, leveraging Myntra’s 70 million customer base across 98% of serviceable pincodes.
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Recent Operational Highlights
Myntra continues to consolidate its position in the fiercely competitive fashion e-commerce market, rivaling players like Nykaa and Reliance Retail’s Ajio. Its combination of solid financial turnaround, aggressive expansion, and support for emerging Indian brands reflects a balanced approach to growth amid regulatory challenges and rising competition. The company’s investments in technology, delivery infrastructure, and international outreach will be critical to maintaining momentum in FY26 and beyond.
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