HomeStartupMeesho post Rs 5,735 Cr revenue in FY23; losses shrink 48%

Meesho post Rs 5,735 Cr revenue in FY23; losses shrink 48%

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  1. Meesho, a horizontal e-commerce platform, experienced substantial growth, witnessing a 77% year-on-year spike in operating scale, reaching Rs 5,735 crore in FY23.
  2. Achieving 14.5 crore app downloads in 2023 in India and surpassing 500 million downloads in H1 FY24 marked significant milestones for Meesho.
  3. Through effective cost management, the company succeeded in reducing losses by 48% to Rs 1,675 crore in FY23 from Rs 3,248 crore in FY22.
  4. In the H1 FY24 results, Meesho observed a 37% year-on-year increase in revenue to Rs 3,521 crore, coupled with a substantial 90% decrease in losses to Rs 141 crore during the same period. Additionally, the company claimed profitability with positive cash flow in India since July 2023, maintaining this status.
SourceEntrackr

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