Meesho Records Robust FY23 Performance: Operating Revenue Soars to INR 5,735 Cr, a 77% Surge; Net Loss Halves to INR 1,675 Cr

Indian e-commerce giant Meesho, backed by investors like SoftBank, Peak XV, and Prosus & Naspers, has reported stellar financials for the fiscal year 2022-23 (FY23). The company witnessed a remarkable 77% YoY surge in operating revenue, reaching INR 5,735 crore, while successfully halving its net loss to INR 1,675 crore, a 48% reduction compared to the previous fiscal year. Meesho attributed the revenue growth to increased transaction frequency among existing customers, a diversified category mix, and intensified efforts to enhance monetization through value-added seller services. The startup claimed profitability in Q2 FY24, with operating revenue of INR 3,521 crore, representing a 37% YoY increase.