{"id":872555,"date":"2024-11-01T10:15:51","date_gmt":"2024-11-01T04:45:51","guid":{"rendered":"https:\/\/telecomlive.in\/web\/?p=872555"},"modified":"2024-11-01T10:47:09","modified_gmt":"2024-11-01T05:17:09","slug":"meesho-narrows-adjusted-losses-to-rs-53-crore-in-fy24-achieves-profitability-milestone","status":"publish","type":"post","link":"https:\/\/telecomlive.in\/web\/2024\/11\/01\/meesho-narrows-adjusted-losses-to-rs-53-crore-in-fy24-achieves-profitability-milestone\/","title":{"rendered":"Meesho narrows adjusted losses to Rs 53 crore in FY24, achieves profitability milestone"},"content":{"rendered":"<p>NEW DELHI: SoftBank-backed Meesho reported a significant reduction in its adjusted losses to Rs 53 crore for the financial year ending 31 March 2024, mainly attributed to a reduction in general and administrative expenses. <\/p>\n<p>The company had previously reported an adjusted loss of Rs 1,569 crore in FY 2022-23. &#8220;Our Selling, General, and Administrative (SG&amp;A) expenses as a percentage of Revenue from Operations declined sharply, driven by strong consumer awareness and organic traction, alongside the significant operating leverage that comes with a marketplace e-commerce model,&#8221; the company stated.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW DELHI: SoftBank-backed Meesho reported a significant reduction in its adjusted losses to Rs 53 crore for the financial year ending 31 March 2024, mainly attributed to a reduction in general and administrative expenses. The company had previously reported an adjusted loss of Rs 1,569 crore in FY 2022-23. &#8220;Our Selling, General, and Administrative (SG&amp;A) expenses as a percentage of Revenue from Operations declined sharply, driven by strong consumer awareness and organic traction, alongside the significant operating leverage that comes with a marketplace e-commerce model,&#8221; the company stated.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[75,4,17],"tags":[],"class_list":["post-872555","post","type-post","status-publish","format-standard","hentry","category-it-2-the-new-indian-express","category-newspapers","category-the-new-indian-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/872555","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/comments?post=872555"}],"version-history":[{"count":0,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/872555\/revisions"}],"wp:attachment":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/media?parent=872555"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/categories?post=872555"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/tags?post=872555"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}