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Revenues digest: Myntra revenue down by 80%, Byjus’ shoots up by 97% in FY18

Myntra Flipkart-owned Myntra's revenues fell sharply by 80% to Rs 427 crore in FY2018 from Rs 2,000 crore last year, reports the Economic Times. Myntra told ET that the data points are partial and do not give the entire picture of Myntra. The company's losses were down by 76% to Rs 151 crore and total expenses were at Rs 926 crore. Soon after Walmart's acquisition of Flipkart and Binny Bansal's departure in November, there were rumours that Myntra-Jabong CEO Ananth Narayanan would depart, which he later laid to rest. However, Myntra CFO Dipanjan Basu left the company to head finances at venture fund Fireside Ventures. Amidst this, Walmart announced that Jabong would be merged into Myntra and laid off 150 Jabong employees. Byju's Education platform Byju's revenues have doubled in FY18 to Rs 490 crore, reports the Economic Times. The firm…

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