Meesho's Q2 net loss narrows to ₹132 crore from ₹411 crore as revenue rises 34%

What happened

• Meesho reported a consolidated net loss of ₹132.45 crore for the September 2026 quarter against ₹411.36 crore a year earlier, Free Press Journal reported, on revenue from operations of ₹4,131.58 crore against ₹3,073.67 crore. Upstox put the revenue rise at 34% and the EBITDA loss at ₹229 crore against ₹456 crore. Free Press Journal gave the first-half net loss as ₹265.28 crore.
• Upstox said net merchandise value was ₹12,911 crore, up 23%, on 819 million orders, up 17%, and 284 million annual transacting users, up 21%. It put contribution margin at 6.0% of net merchandise value against 4.6% in the June quarter, and cash at ₹7,048 crore on 30 September.
• Free Press Journal said the board appointed Sudhir Ganesh Sitapati as a non-executive independent director for the period 28 October 2026 to 27 October 2031. Its report also lists consideration of ₹202.09 crore for the acquisition of Kirana Club.
• Free Press Journal's report is timed at 5:23 PM and Upstox's at 5:53 PM, after the close. The shares closed at ₹226.50 against ₹223.58 on Tuesday on Kite data, a rise of 1.31% by my calculation.

Why it matters

Good to know: Net merchandise value is the value of goods sold through the platform. It is a different measure from revenue, which is what the company books, and is much larger here: ₹12,911 crore against ₹4,132 crore.

Key facts

Consolidated net loss

₹132.45 crore (₹411.36 crore a year earlier)

Revenue from operations

₹4,131.58 crore (₹3,073.67 crore), up 34%

EBITDA loss, per Upstox

₹229 crore (₹456 crore)

Net merchandise value, per Upstox

₹12,911 crore, up 23%

Cash, 30 September, per Upstox

₹7,048 crore

Read the source

• Meesho Reports Q2 FY27 Consolidated Net Loss Of ₹132.45 Crore, Revenue Rises To ₹4,131.58 Crore; Board Appoints Independent DirectorFree Press Journal
• Meesho Q2 FY27 results: Net loss narrows to ₹132 crore YoY; net merchandise value grows 23%Upstox