Glory were unable to follow up last weekend's win over Adelaide United as they were downed 5-2 by Wellington Phoenix at Westpac Stadium.
The visitors took an early lead through a stunning strike from Xavi Torres and after falling behind to first-half goals from Dario Vidosic and Goran Paracki, fought back to level things up via Shane Lowry's header just after the break.
Phoenix restored their lead courtesy of Gui Finkler's close-range effort, however, before Andrija Kaludjerovic fired home his fourth goal of the season from the penalty spot 16 minutes from time to make it 4-2.
The in-form Serb then added his second and the home side's fifth right at the death to round out the scoring.
And yet the Remembrance Round clash began so brightly for Glory on a chilly afternoon in the New Zealand capital.
Teenage home goalkeeper Keegan Smith gifted Kenny Lowe's side an indirect free-kick just inside the box when he handled Marco Rossi's backpass under pressure from Andy Keogh and following a touch from Diego Castro, Torres calmly stroked the ball over the wall and into the roof of the net.
Glory's lead was to last just four minutes, however, as Krishna made his way into the box and stood up a fine cross for Vidosic who beat Liam Reddy from close range with a downward header.
The visitors responded to the setback in positive fashion and went close to restoring parity when Castro cut inside from the left and flashed a low shot narrowly wide of Keegan's far post.
But despite finding themselves under sustained pressure, it was Phoenix who grabbed the game's next goal.
The lively Krishna pounced on a wayward pass from Scott Neville and played in Paracki whose angled drive from the right-hand side of the box found the bottom corner.
Glory could count themselves unfortunate to be trailing at the break and they rectified that situation within two minutes of the re-start.
Seconds after a fierce Brandon Wilson strike had been palmed over the bar by Smith, Lowry was first to meet a teasing cross from Mitch Nichols and the central defender's glancing header made it 2-2.
Again Darije Kalezic's men hit back swiftly, however, as five minutes later Krishna found space on the right flank and when he picked out Finkler, the former Melbourne Victory midfielder had time to take a touch and pick his spot.
And Wellington duly extended their lead, albeit in controversial circumstances.
After a lengthy referral to the Video Assistant Referee, match official Kurt Ams adjudged that Scott Neville had handled Alex Rufer's cross in the box and Kaludjerovic calmly drilled home the resulting penalty.
But if there was some dispute about Kaludjerovic's first goal, there was none about his second as the striker's powerful, 86th-minute header gave Reddy no chance.
Wellington Phoenix 5 (Vidosic 13', Paracki 34', Finkler 52', Kaludjerovic (pen) 74', 86') Perth Glory 2 (Torres 9', Lowry 47')
Half time: 2-1
Westpac Stadium, Wellington
Referee: Kurt Ams
Wellington Phoenix: 30.Keegan SMITH (GK), 2.Daniel MULLEN, 4.Goran PARACKI, 6.Dylan FOX (14.Alex RUFER 45'), 7.Gui FINKLER, 8.Dario VIDOSIC (12.Adam PARKHOUSE 82'), 9.Andrija KALUDJEROVIC, 13.Marco ROSSI, 17.Ali ABBAS, 21.Roy KRISHNA, 23.Matthew RIDENTON
Substitutes not used: 1.Lewis ITALIANO (GK), 11.Hamish WATSON, 19.Thomas DOYLE
Yellow cards: Paracki 40', Rufer 45+2'
Red cards: None
Perth Glory: 33.Liam REDDY (GK), 2.Alex GRANT, 4.Shane LOWRY, 6.Mitch NICHOLS, 8.Xavi TORRES, 9.Andy KEOGH (c), 14.Chris HAROLD (11. Mitch MALLIA 62'), 15.Brandon WILSON, 17.Diego CASTRO, 18. Andreu GUERAO (20.Jake BRIMMER 70'), 23.Scott NEVILLE (5.Jacob POSCOLIERO 78')
Substitutes not used: 13 Nick FEELY (GK), 19.Joseph KNOWLES
Yellow cards: Harold 16', Wilson 37'
Red cards: None