Meesho Reports 54% Year-Over-Year Loss Reduction and 48% Revenue Growth in Q1
E-commerce company Meesho reported a 54% year-over-year reduction in its net loss for the first quarter, bringing it to €133 million. The company also saw its revenue increase by 48% to €3,712.8 million.
E-commerce firm Meesho has announced a significant reduction in its net loss for the first financial quarter ending June. The company posted a net loss of €132.8 million, marking a 54% decrease compared to €289.4 million in the same quarter of the previous year. Sequentially, the loss decreased by 20% from €166.4 million in the preceding quarter.
Meesho also reported substantial growth in its operating revenue, which climbed 48% year-over-year to €3,712.8 million. On a quarter-over-quarter basis, revenue grew by 5%. Including other income of €114 million, the company's total income for the period reached €3,826.4 million.
Despite revenue growth, total expenses for the quarter rose 42% year-over-year to €3,959.2 million. This increase in expenses reflects the company's expanding operations and efforts to capture market share.
The financial results indicate a positive trend for Meesho in improving its profitability while continuing to scale its business. The company's performance in cost management alongside revenue generation will be a key factor for its sustained growth in the competitive e-commerce landscape.