Flipkart-owned Myntra has seen a manifold rise in net loss to Rs 539.20 crore in FY2018-19, according to regulatory documents.
According to a PTI report: The fashion e-tailer had registered losses to the tune of Rs 151.22 crore in the previous year, documents sourced by business intelligence platform Tofler said.
However, the company’s revenue from operations more than doubled to Rs 1,041.10 crore in FY’19 from Rs 398.33 crore in the previous fiscal, it added.
The company saw its employee benefit expenses go up to Rs 425.20 crore in FY’19 from Rs 279.39 crore in the previous fiscal, while total expenses for the fiscal were at about Rs 1,628 crore, it said.
Myntra has partnered with over 3,000 fashion and lifestyle brands including Nike, adidas, Diesel, CAT, Harley Davidson, Ferrari, Timberland, and others.
