Here are some details:
Consolidated net loss contracted to 1.32 billion rupees ($13.9 million) in the July to September quarter, from 4.11 billion rupees a year earlier
The Bengaluru-based company, known for its budget-friendly prices across fashion, home and everyday items, has been expanding its reach in smaller cities and towns while seeking to boost revenue from sellers and lower delivery costs
Meesho competes with larger rivals Amazon and Walmart-owned Flipkart
The firm reported a 34% year-on-year increase in revenue from operations to 41.32 billion rupees
Revenue growth was aided by stronger ad revenue from sellers – Meesho
Net merchandise value, a key metric for e-commerce platforms, rose 23% to 129.11 billion rupees, while orders placed increased 17% to 819 million
Shares of Meesho, which listed in December last year, have gained 26.42% so far this year
($1 = 95.1875 Indian rupees)
