Ecommerce startup Meesho on Wednesday reported higher revenue and narrower losses in FY24 as it benefited from an increase in annual transacting users and a rise in order frequency from existing customers.
In FY24, the company reported operating revenues of ₹7,615 crore, a 33% increase from a year earlier. Its adjusted losses narrowed by 97% to Rs 53 crores, excluding employee share-based compensation expense, Meesho said in a statement.
The company attributed the gains to improved efficiencies across multiple areas like logistics as well as leveraging generative AI and machine learning for better discovery and improved in-app experience.
Meesho recorded 145 million unique annual transacting users in FY24, representing about 10% of India's purchases through its platform, it claimed.
この記事は Mint Mumbai の October 31, 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は Mint Mumbai の October 31, 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
Small loans can spell big trouble for Indian banks
Watch out for signs of stress in India's micro-finance sector. Bad loans, even if small, extract a cost by way of reduced profits as well as higher interest charges on credit across the board
India should redesign its public safety signs to save lives
Mind studies suggest that the use of photographs depicting fear could trigger safe behaviour
Burberry is looking like a fine acquisition target this winter
This brand known for its chequered story can surely perform better
The Washington Consensus has collapsed and it won't be missed
The combination of free-market capitalism and electoral democracy that it promoted has failed to serve everyone equitably
India's statistics ministry has a new sense of purpose
The flurry of activity to get India's statistics right is laudable but we await regulatory design clarity
The rupee could suffer collateral damage if a currency war ensues
The US election is a game-changer for foreign-exchange markets that will test the rupee and RBI
PASSIVE INCOME STRATEGIES FOR MSMEs: SECURE GROWTH, STABILITY IN UNCERTAIN TIMES
I Forging diverse passive income streams takes time, but steady approach builds a strong base
Securing financial future of a child with special needs: A parent's guide
If you have a special needs child, especially with communication disability, how can you best secure his or her financial future?
A simple guide for NRIs to invest in Indian MFs online
Unlock a wide range of investment options from anywhere with just a few simple clicks
HOW FOUR INDIAN STATES ARE WOOING FOXCONN
The Taiwanese manufacturing powerhouse has already invested $10 billion. Now, it wants to expand
