Meesho reports profitability in FY24

Indian ecommerce platform Meesho has released its first annual report, detailing growth and technological advancements. The company reported profitability for the fiscal year 2024, becoming the first horizontal Indian ecommerce platform to achieve this milestone. It achieved a positive free cash flow of 197 crore rupees (US$23.64 million). The report noted a 97% reduction in adjusted losses, which fell to 53 crore rupees (US$6.36 million), excluding employee share-based compensation. As of December 2024, Meesho had approximately 187 million annual transacting users. It reported a total of 1.3 billion orders placed between April and December 2024.