Myntra Makes History: Turns Profitable in FY24 as Revenue Hits INR 5,121.8 Cr
- Myntra, a leading fashion e-commerce platform, reported a net profit of INR 30.9 Cr in FY24, its first-ever profitability milestone.
- Revenue from operations grew 15% year-on-year to INR 5,121.8 Cr, supported by cost optimization and innovative delivery services like “M-Now.”
- With reduced material costs and steady ad spend, Myntra successfully transitioned from a loss of INR 782.4 Cr in FY23 to profitability in FY24, further solidifying its position in the competitive e-commerce space.

The platform’s operational revenue soared to INR 5,121.8 Cr in FY24, up from INR 4,465 Cr in the previous fiscal year. Adding INR 51.9 Cr in other income—primarily driven by royalty earnings of INR 45.6 Cr—the total income for the year touched INR 5,173.7 Cr.
Key Drivers of Myntra’s Success
Diverse Revenue Streams:
Myntra generates most of its revenue from transaction fees paid by third-party sellers on its platform. Additionally, it earns through logistics, advertisements, consultancy services, and sales under its private labels.Delivery Innovations:
To keep up with the quick commerce trend, Myntra introduced faster delivery options. After piloting four-hour deliveries in select cities in September, the company rolled out its “M-Now” service in November, offering delivery within 30 minutes to two hours.Cost Optimization:
The company effectively reduced its expenses by 3% to INR 5,123 Cr, down from INR 5,290.1 Cr in FY23.
Expense Breakdown
- Cost of Materials: At INR 1,996.4 Cr, this accounted for the largest share of Myntra’s expenses but saw an 8% decrease from FY23’s INR 2,165.7 Cr.
- Employee Benefits: Staff costs increased by 8%, reaching INR 800 Cr compared to INR 742.5 Cr in FY23.
- Advertising & Promotions: Myntra allocated INR 1,677.4 Cr for promotions in FY24, marking a 5% reduction from the INR 1,758.8 Cr spent last fiscal year.
Myntra’s Growth Journey
The platform’s profitability marks a significant milestone in its evolution. With steady revenue growth, cost-efficient operations, and a customer-centric approach, Myntra is poised to strengthen its foothold in the highly competitive e-commerce market.
By achieving profitability in FY24, Myntra has not only proved its business model’s resilience but has also set a benchmark for other players in the industry.
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Rajat N
Web Designer and Digital Marketing Manager with 3+ years of experience at Vibrant Marketer. Skilled in crafting visually appealing and user-friendly websites. Also proficient in content writing and graphic design to enhance brand visibility.