Meesho’s Quarterly Loss Widens as Expenses Surge After Market Debut
Indian e-commerce firm Meesho reported a sharp increase in quarterly losses, driven by a steep rise in expenses, in its first earnings report since its market debut in December. The company posted a consolidated net loss of 4.91 billion rupees for the quarter ended December 31, compared with a loss of 374.3 million rupees a year earlier, while total expenses jumped 44% to 40.71 billion rupees.
Despite higher costs, Meesho’s revenue rose nearly 32% to 35.18 billion rupees, reflecting growing demand from India’s expanding online consumer base seeking affordable and convenient shopping options. The company has positioned itself as a low-cost marketplace by offering inexpensive products and not charging sellers a commission.
Backed by SoftBank, RIC and Peak XV Partners, Meesho competes with major players such as Amazon and Walmart-owned Flipkart in India’s highly competitive e-commerce market. Consumer demand has shown signs of recovery after a slowdown, supported by tax cuts and festive spending. Meesho’s shares had risen nearly 3% ahead of the results.
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