Myntra Swings to a ₹582 Crore Loss as Revenue Falls 13.5%

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Myntra ended the financial year to March 31, 2026 (FY26) with a net loss of ₹581.8 crore. A year earlier the fashion marketplace had reported a net profit of ₹546.3 crore.

Operating revenue fell 13.5% to ₹5,242.5 crore, down from ₹6,063.8 crore in FY25. Adding other income of ₹73.3 crore, total income came to ₹5,315.8 crore, a 13.4% drop from ₹6,137 crore. EBITDA loss was ₹435 crore, compared with ₹535.9 crore in FY25.

Ads grow, logistics shrinks

Myntra earns from three streams: marketplace services, logistics services and advertising. Marketplace and collection services brought in ₹2,657.3 crore, about 50.7% of the top line and 3% more than the ₹2,580.2 crore of the previous year.

Advertising revenue rose 35.2% to ₹1,236.4 crore from ₹914.5 crore. Logistics and shipping services went the other way, falling 53.2% to ₹1,119.2 crore from ₹2,390.5 crore. Other operating revenue added ₹229.6 crore.

Where the money went

Total expenses for FY26 were almost unchanged, up 0.6% to ₹5,757.7 crore from ₹5,726 crore.

Advertising and promotion was the largest line. Spending there rose 10.5% to ₹2,326.5 crore from ₹2,105.3 crore and made up 40.4% of all expenditure. Direct expenses, which include payment gateway and logistics charges, fell 13.9% to ₹1,841 crore from ₹2,139.4 crore and accounted for 32% of the total. Employee benefit expenses grew 3.8% to ₹776.9 crore from ₹748.8 crore.

Myntra was founded in 2007 by Mukesh Bansal, Ashutosh Lawania and Vineet Saxena. It is an online marketplace where third-party sellers list fashion products. Flipkart bought the Bengaluru-based company for $240 million in 2014.

Earlier this year Sharon Pais, previously at Flipkart Fashion, became head of Myntra and replaced Nandita Sinha. Myntra also named Pramod Adiddam, an Instacart executive, as its chief technology officer.

Flipkart Group, Myntra's parent, published its consolidated FY26 results after its reverse flip to India. The Walmart-backed group's revenue from operations rose 18.2% to ₹1.45 lakh crore, and its loss narrowed 2.1% to ₹8,468 crore. The company said in a blog post that the net loss at the profit-after-tax level fell by about ₹180 crore year over year, and that the gain was moderated by higher finance costs, the derecognition of deferred tax assets recognised in earlier periods and certain one-off exceptional items.

Source: Inc42