Myntra Slips Into The Red In FY26, Reports ₹582 Cr Loss

Fashion ecommerce platform Myntra reported a net loss of ₹581.8 Cr in the financial year ended March 31, 2026 (FY26), reversing a net profit of ₹546.3 Cr in the previous fiscal. Myntra’s operating revenue fell 13.5% to ₹5,242.5 Cr in the fiscal under review, compared to ₹6,063.8 Cr in FY25. Myntra earns revenue from three streams – marketplace services, logistics services and advertisement services. Breaking down the top line, marketplace and collection services contributed to 50.7%. It stood at ₹2,657.3 Cr in FY26, marking a 3% increase from ₹2,580.2 Cr in the previous year. Advertisement Services rose 35.2% to ₹1,236.4 Cr in the year under review, from ₹914.5 Cr in FY25. Meanwhile, logistics and shipping services fell 53.2% to ₹1,119.2 Cr in FY2025-26, from ₹2,390.5 Cr a year ago. Besides these, other operating revenue contributed ₹229.6 Cr, taking the overall topline to ₹5,242.5 Cr in the reported year. Including other income of ₹73.3 Cr, the total income for the fiscal year FY26 stood at ₹5,315.8 Cr, a 13.4% fall from ₹6,137 Cr. The company’s EBITDA loss stood at ₹435 Cr in FY26, from ₹535.9 Cr in FY25. Founded in 2007 by Mukesh Bansal, Ashutosh Lawania and Vineet Saxena, Myntra is an online marketplace which allows third-party sellers to sell their fashion products. The Bengaluru-based startup was acquired by Flipkart for $240 Mn in 2014. Earlier this year, Flipkart Fashion’s Sharon Pais was elevated to the role of the head of fashion marketplace arm Myntra, replacing Nandita Sinha. Additionally, Myntra also appointed Instacart executive Pramod Adiddam as its chief technology officer (CTO). Myntra’s parent, Flipkart Group, also released its consolidated FY26 financials following its reverse flip to India. The Walmart-backed ecommerce group saw an 18.2% jump in consolidated revenue from operations to ₹1.45 Lakh Cr while loss narrowed 2.1% to ₹8,468 Cr. “At the PAT level, net loss reduced by approximately ₹180 Cr year over year. The improvement was moderated by higher finance costs, the derecognition of deferred tax assets recognised in earlier periods and certain one-off exceptional items,” the company said in a blog post. Zooming Into Myntra’s FY26 Expenses Total expenses for the year 2025-26 remained nearly flat, with a 0.6% increase to ₹5,757.7 Cr, from ₹5,726 Cr in the previous year. Here is a closer look at where the ecommerce platform spent the most: Employee Benefit Expenses: Expenses towards salaries, wages, bonus, staff welfare, gratuity and provident fund, Myntra spent ₹776.9 Cr in the year under review, up 3.8% from ₹748.8 Cr in FY25. Direct Expenses: Constituting 32% of the total expenses, this includes payment gateway charges and logistic charges. Direct expenses stood at ₹1,841 Cr, marking a 13.9% decline from ₹2,139.4 Cr. Advertisement And Promotion Expenses: Spending under this head rose 10.5% to ₹2,326.5 Cr, compared to ₹2,105.3 Cr, contributing 40.4% of the overall expenditure.

Source: Inc42 (India)