Myntra, owned by Walmart, reported its first full year of profitability in FY24, earning Rs 31 crore. This is a significant improvement from the previous year, when the company faced a loss of Rs 782 crore. The growth was attributed to a reduction in costs and increased revenues.Myntra reported a 15% revenue growth, reaching Rs 5,122 crore in FY24, driven by higher revenues and reduced expenses. The company's expenses decreased by 3%, with cuts in material, advertising, and IT costs. However, employee benefits expenses increased compared to the previous year. This growth has positioned Myntra towards better profitability.
