Myntra Spent ₹2,326 Crore on Ads in FY26, Nearly Twice What Its Ad Business Earned

Myntra spent ₹2,326.5 crore on advertising in the year ended 31 March 2026 (FY26), nearly 1.9 times the ₹1,236.4 crore it earned from selling ads on its own platform, according to the Flipkart-owned fashion marketplace's financial statements filed with the Registrar of Companies and reported by Entrackr on 20 October 2026.

The company swung to a net loss of ₹579.4 crore in FY26, from a net profit of ₹548.5 crore in FY25. Revenue from operations fell 13.5% to ₹5,242.5 crore, mainly because logistics income shrank. For media sellers, the headline is the advertising line: it is now Myntra's fastest-growing source of income and also its single largest cost.

Ads are the growth engine

Revenue from advertisement services rose 35.2% to ₹1,236.4 crore from ₹914.5 crore a year earlier, BestMediaInfo reported from the same filings. That is about 23.6% of operating revenue, or about 30% if the logistics business is left out.

Excluding logistics and shipping, revenue grew 12% to ₹4,123.3 crore from ₹3,673.3 crore. Of that ₹450 crore increase, ₹321.9 crore, or nearly 72%, came from advertising, according to BestMediaInfo. The main breakdown of FY26 operating revenue:

• Marketplace and collection services: ₹2,657.3 crore, up 3%
• Advertisement services: ₹1,236.4 crore, up 35.2%
• Logistics and shipping: ₹1,119.2 crore, down 53.2% from ₹2,390.5 crore
• Other operating revenue: ₹229.6 crore, up from ₹178.6 crore

And the biggest cost

Advertising spending rose 10.5% to ₹2,326.5 crore, Entrackr reported, about 40% of total expenses of ₹5,757.7 crore. Total expenses were almost flat, up 0.6% from ₹5,726 crore. Logistics charges fell 16.6% to ₹1,666.6 crore, while employee costs rose about 4% to ₹777 crore, including ₹235.4 crore of ESOP costs.

Storyboard18, which also reported the ₹2,326.5 crore figure, said Myntra plans to triple creator commissions this festive season and works with about 2 lakh celebrities and key opinion leaders, so a large share of its marketing now flows to creators rather than only to traditional media.

Why the year ended in a loss

Myntra posted a loss before tax of ₹441.9 crore, against a profit before tax of ₹411 crore in FY25, according to BestMediaInfo. A deferred tax charge of ₹137.5 crore took the net loss to ₹579.4 crore, Entrackr reported; FY25's net profit had been lifted by a deferred tax credit. Entrackr attributed the loss largely to restructuring costs linked to Myntra's move of its holding structure from Singapore to India, part of the Flipkart group's reverse flip.

Myntra's filings land in a season of bigger ad budgets and new ad sellers, from Nestlé India's 46% rise in ad spend to JioAds' push into household targeting.