Myntra FY24 ad revenue grows 33% to Rs 712 cr
The eCommerce platform has registered a net profit of Rs 31 crore in this FY, a turnaround from last year’s net loss of Rs 782 crore
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Published: Dec 9, 2024 4:25 PM | 1 min read
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Myntra has recorded a net profit of Rs 31 crore for FY24, as per media reports.
The eCommerce platform's advertising revenue has seen a growth of 33% to Rs 712.3 crore, reports said.
The company's ad revenue accounted for 14% of the total revenue. Last fiscal, the share stood at 12%.
Last year, Myntra had posted a net loss of Rs 782 crore. The company has made a turnaround by enabling a reduction in overall expenses.
In November this year, the Flipkart-owned fashion e-commerce player introduced the “M-Now” feature, offering delivery times as short as 30 minutes to 2 hours.
The feature, currently being piloted in select areas of Bengaluru, builds on Myntra’s previous experiments with expedited delivery timelines, such as the M-Express service launched in 2022, which promised 24–48 hour delivery.
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