Flipkart-owned Myntra has seen a manifold rise in net loss to Rs 539.20 crore in FY2018-19, according to regulatory documents. 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. Queries sent to the company did not elicit a response. Myntra has partnered with over 3,000 fashion and lifestyle brands including Nike, adidas, Diesel, CAT, Harley Davidson, Ferrari, Timberland, and others.
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