Flipkart-owned Myntra Designs Pvt Ltd, which runs online fashion retailer Myntra, has reported an 80% drop in revenue for the year ended March 2018 as it clocked in revenue of Rs 427 crore.
Myntra’s total expenses for the year stood at Rs 926 crore while its losses were recorded at Rs 151 crore.
Myntra spokesperson said, "These data points are partial and doesn't give the entire picture of the company. Myntra and Jabong continue to grow at a healthy rate with a firm focus on delivering the best of fashion and lifestyle for our customers. We are moving forward in our strategic direction as per plan and remain committed to adding value to our customers and brand partners by transforming fashion eCommerce in the country."
Presently, the company is planning to expand its operations in the overseas market.