Meesho’s revenues rise; losses narrow in FY23 – Times of India

Meesho’s revenues rise; losses narrow in FY23 - Times of India

New Delhi: MeshuOf Income From Operations 5,735 crore, up 77% year-on-year in FY23. The e-commerce firm that competes with players like Flipkart and Amazon claims Disadvantages 3,248 crore in FY22 to Rs 1,675 crore in FY23.
“Our continued top-line growth was further enhanced by operating leverage and a focus on efficiencies across multiple cost items, be it customer acquisition costs, server and infrastructure costs and more,” Mesho said in a blog post on Friday. There are other things.”
For the first half of FY24 (April-September period), gross income from operations rose 37% YoY to Rs 3,521 crore. Losses for the period were Rs 141 crore, recording an annual decline of 90%. Meshu said the company managed to turn profitable in Q2FY24 and has maintained it so far.
“Over the past two years, our focus on profitable growth through cost optimization initiatives, combined with operating leverage, has significantly increased our profitability,” the firm said.
Meshu said its ability to offer a wide selection of choices and low prices are driving users to download its app without extensive marketing pressure.
“Revenue from operations in these six months alone (April-September) exceeded the revenue of the entire year of FY 2021-22…. “I also continued to expand where we saw continued growth across all categories,” the company said.

Business news,Income,Operations,tight,Meshu,Disadvantages
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