Meesho’s operating revenue grew by 77 per cent to Rs 5,735 crore for FY 2023 against Rs 3,232 crore in FY 2022, while incurring a loss of Rs 3,247 crore, according to a media report on Friday.
The company highlighted that its loss for FY 2023, narrowed by 48 per cent to Rs 1,675 crore.
For the first half of FY 2024 which ended on 30 September 2023, Meesho said its operating revenue increased by 37 per cent YoY to Rs 3,521 crore, with a 90 per cent reduction in loss to Rs 141 crore. The company said it has achieved profitability for the September quarter, without disclosing any numbers.
Meanwhile, in August, Meesho CEO Vidit Aatrey also underlined that the firm had clocked its first profit after tax for July.
Additionally, the company claimed that it has maintained a positive cash flow throughout the first half of FY 2024. In a statement, Meesho said the business demonstrated continuous sustainable growth.
It has been reportedly also emphasised that Meesho is the first horizontal ecommerce company to turn profitable in India since July 2023 and has continued to maintain its position.
