How Myntra Became A Profit Machine

Flipkart may be busy putting its house in order ahead of its 2026 public market debut, but sister company Myntra is quietly stealing the spotlight. In a market where most players are still bleeding cash, the fashion marketplace has turned into a profit machine.

In FY25, Myntra’s net profit rose nearly 18X year-on-year (YoY) driven by an 18% YoY rise in operating revenue, low cash burn and a deferred tax credit. In fact, it’s looking more and more like Flipkart could turn to Myntra for the profitable growth in the short term even as the…