Flipkart-owned fashion e-tailer Myntra swung to a net loss of Rs 579 crore in fiscal 2026, against a Rs 548 crore net profit in FY25, according to financial statements filed with the Registrar of Companies (RoC). Myntra's operating revenue also fell 13% year-on-year (YoY) to Rs 5,243 crore during FY26.

Myntra was the only profitable unit within the Flipkart group in FY25. The company saw a leadership change in 2026, when CEO Nandita Sinha departed after four years at the helm. Sinha was replaced by Sharon Pais, who took over as the head of Myntra in April this year.

In FY25, Myntra’s net profit jumped nearly 18 times to Rs 548 crore from Rs 31 crore in FY24. The company's operating revenue grew 18% to Rs 6,043 crore, but expenses increased at a slower clip, leading to the rise in net profit.

In the last fiscal, Myntra has also expanded its quick commerce operations under M-Now leading to higher expenses. Launched in June 2025, M-Now is now present in over 12 cities including Bengaluru, Mumbai, Delhi-NCR, Pune and other cities.

Last November, Myntra announced that M-Now generated about 10% of the platform’s total orders. Myntra’s quick commerce push was fueled by the rise of venture capital-backed vertical commerce startups like Slikk, Knot and Zilo.

Myntra’s FY26 financials are part of Flipkart Internet Pvt Ltd, the amalgamated entity of the ecommerce group following its reverse flip to India from Singapore in March 2026. On a consolidated basis, Flipkart Internet reported an 18% increase in revenue to Rs 1,45,880 crore. This includes the financials of its wholesale arm, Flipkart India, which accounts for 78% of the total.

In a statement responding to ET's queries, Flipkart said, “As part of its redomiciliation to India, Flipkart Group is publishing consolidated financial results under Flipkart Internet Private Limited. The results reflect the group's performance over the reporting period for the year ended March 2026 and provide a historical view of the business rather than a current trading update.”

The ecommerce marketplace business of Walmart-owned Flipkart reported a 19% decline in operating revenue to Rs 16,295 crore in fiscal 2026, according to RoC. Its net loss nearly tripled to Rs 5,498 crore from Rs 1,694 crore in the previous fiscal.