Meesho nearly halves its losses, revenue jumps 77% in FY23

E-commerce startup Meesho nearly halves its losses by 48% to Rs 1,675 crore in FY23, from Rs 3,248 crore a year ago, as it reined in expenses like customer acquisition, server and infrastructure costs, the company said in a blog post.

Revenue from operations jumped 77% over the previous year to Rs 5,735 crore in FY23, boosted by increased transaction frequency of existing customers, widening category mix and improving monetisation through various value-added seller services, it said.

For H1FY24, the startups’s revenues rose 37% to Rs 3,521 crore compared to the year-ago period.