However, its operating loss shot up almost tenfold to Rs 551.8 crore for the first half of FY26 from Rs 54.3 crore in the year-ago period.
This was primarily on the back of an increase in investments in technology, marketing and team expansion during that period to drive business growth.
For the same period, the platform’s net loss narrowed to Rs 700 crore from Rs 2,512 crore a year earlier. In FY24, the losses rose due to an increase in tax payable for that period on account of business combination and restructuring.
Meesho’s net merchandise value (NMV) surged 44% to Rs 19,194 crore for the six months ended September 30 from Rs 13,318 crore a year earlier. The NMV metric is calculated as GMV less returns and cancellations but inclusive of taxes.
Overall, Meesho clocked Rs 9,390 crore in operating revenue in FY25, up 23% from FY24. The net loss for FY25 stood at Rs 3,942 crore, primarily due to one-time exceptional items, including reverse flip tax and perquisite tax, required for the company’s transition to a public structure.
The SoftBank-backed company is set to float its initial public offering (IPO), comprising a fresh issue of shares worth Rs 4,250 crore, on December 3.
The company’s maiden public offering will conclude on December 5, and anchor investors will be allocated shares on December 2, according to the red herring prospectus (RHP) filed on Thursday.