29 October 2022, Mumbai:
Myntra’s operating revenue surged 45 percent in the fiscal year 2022. Marketplace and logistics services were the major sources of revenue for Myntra, contributing around 46 percent and 42 per cent of the operating revenue, which surged 18 percent and 91 percent respectively. Income from advertisement services grew 77 percent.
When it comes to expenditure, logistics turned out to be the biggest cost center for the company contributing nearly 40 percent to the annual expenditure. This cost surged 57 percent. Advertising and promotional expenses were the other major expenses during the last fiscal year which accounted for around 31 percent of total costs and soared 69 percent in the fiscal year 2022. Employee benefit and outsourced manpower expenses increased by 12 percent and 37 percent respectively. The company also incurred payment gateway charges and after-sales services (customer support services) which surged by 53 percent and 32 percent during the last fiscal year.
Myntra’s total expenditure also grew 45 percent. While the operating revenue and total expenses surged at the same pace, an 83 percent spike in non-operating income helped the company control losses to some extent.
Myntra, owned by Walmart, is the largest fashion-focused e-commerce platform in India.
