The Meesho startup reported a 32.7% growth in the financial year 2024. As a result, Meesho’s losses for the financial year ending March 31, 2024, were reduced to Rs 53 crore. The company clarified that this reduction in losses was due to a cut in administrative expenses.

Revenue for the financial year ending in March 2024 (FY24) saw a 32.7% increase, reaching Rs 7,615 crore from Rs 5,735 crore in the previous financial year.

This reduction in losses to Rs 53 crore for FY24 represents a 96.6% decrease from Rs 1,569 crore in the previous financial year.

The startup explained that this higher revenue and reduced losses were driven by an increase in the number of customers and more frequent orders from existing customers. Orders grew by 36%, from 622 million in FY23 to 843 million in FY24.