Meesho cuts loss from Rs 1, 569 cr to Rs 53 cr from higher revenue of 33%

Softbank-backed Meesho has reported a significant narrowing of losses to Rs 53 crore while its revenue increased 33 per cent to Rs 7,615 crore in FY24, the company said in its annual report on Wednesday.

The e-commerce firm had posted a loss of Rs 1,569 crore, excluding ESOP cost, and revenue of the company was at Rs 5,735 crore in FY23.

Meesho, however, claimed to be the first horizontal Indian e-commerce company to achieve profitability in FY24 and the first to generate positive free cash flow of Rs 197 crore for the full year.