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Meesho's Losses Plummet 68% on Strong Revenue Growth
28 Oct
Summary
- Meesho's Q2 net loss decreased by 68% year-over-year.
- Revenue grew 34% year-over-year to ₹4,131.6 Cr.
- Exceptional expenses in prior year aided annual loss reduction.
Meesho has announced a substantial improvement in its financial performance for the September quarter of FY27. The e-commerce giant reported a consolidated net loss of ₹132.5 Cr, marking a significant 68% decrease compared to the ₹411.4 Cr loss recorded in the same period last year.
This reduction in net loss was primarily fueled by strong revenue growth. Operating revenue experienced a 34% year-over-year increase, reaching ₹4,131.6 Cr. Total income, including other income, stood at ₹4,259 Cr. This growth in revenue outpaced the rise in total expenses, which increased by 24% to ₹4,382.3 Cr.
The year-over-year reduction in loss was also attributed to the absence of exceptional expenses. In the prior year's quarter, Meesho had incurred ₹45 Cr in exceptional costs related to a business combination and vendor dispute settlement, along with a ₹64.4 Cr tax charge. These non-recurring charges did not occur in the current quarter under review, contributing to the improved financial figures.
