Myntra also posted an 80% drop in revenue FY18 as a big chunk of its sales were moved to a new entity that was formed after its acquisition of rival Jabong in 2016. Myntra Designs reported sales of ₹427.74 crore in FY18, according to RoC documents and data sourced from Tofler and Paper.VC. It had reported revenue of ₹2,038.10 crore in the year-ago period. Total expenses reduced significantly during FY18 due to a fall in purchase of stock and reduction of inventory, the RoC documents showed. Myntra’s total expenses stood at ₹926 crore in FY18 compared to ₹2,667 crore in the year-ago period.

Source: Mint January 08, 2019 16:30 UTC