Meesho Q4 Loss Narrows 88% as Revenue Jumps 47%

Bengaluru-based e-commerce platform Meesho today reported an 88% year-on-year (YoY) decline in its quarterly net loss to ₹166.3 crore in the quarter ending in March of FY26, against ₹1,391.4 crore posted in the same period last year.

In a filing, the company had posted a loss of ₹490.7 crore in the previous quarter.

Operating revenue of Meesho zoomed 47.1% to ₹3531.2 crore during the Q4 under review from ₹2,400 crore in the year-ago quarter. Sequentially, it rose marginally from ₹3,517.6 croe.

Including other income, Meesho’s total income for the quarter stood at ₹3,647 Cr.

Loss for the FY26 year stood at ₹1,357.7 crore, down 66% against ₹3,941.7 crore in the previous fiscal.

For the March quarter, NMV rose 43% year-on-year to ₹11,371 crore, while placed orders also increased 43% to 717mn.

Total expenses for the firm increased 44% to ₹3,807.1 crore in the quarter, which is up from ₹2,636.8 crore a year ago and ₹4,071.3 crore a quarter ago.

For the full year, adjusted EBITDA came in at minus ₹1,178 crore or 2.8% of NMV, compared to minus ₹117 crore in FY25. The company attributed most of this widening to deliberate spending on new user acquisition, logistics disruption costs in the middle quarters, and investments in AI infrastructure and engineering talent.

The company also said it remained India’s most downloaded shopping app during FY26 and recorded 2.67bn placed orders during the year, up 45% from FY25. Order frequency improved to 10.1 transactions per consumer annually.

AI-led Push and Bharat Focus

In its shareholders’ letter, founder and chief executive Vidit Aatrey said Meesho was positioning itself as a technology-first company focused on removing barriers to e-commerce adoption in India.

The company highlighted multiple AI-led initiatives, including “PRISM”, its recommendation engine, and “Vaani”, a voice-based shopping assistant designed for vernacular and first-time internet users. Meesho said more than 75% of orders now come from AI-driven personalised feeds, while Vaani crossed 1.5 million users within its first month.

Meesho also claimed that over 70% of its code is now AI-generated, helping accelerate product releases and platform experiments.