Meesho Limited’s net loss narrowed 68% in Q2 FY27 as marketplace revenue rose 34% and annual transacting users reached 284 million, with the festive sale shifting between quarters.
The Indian e-commerce company reported a consolidated net loss of ₹132 crore for the quarter ended Sept. 30, 2026, compared with ₹411 crore in Q2 FY26. Marketplace revenue from operations was ₹4,120 crore. Net merchandise value (NMV) reached ₹12,911 crore, up 23% year over year, while placed orders rose 17% to 819 million.
Annual transacting users increased 21% to 284 million, and annual purchase frequency reached 10.4 transactions per user, up 7%. These are annual measures; the loss, revenue, NMV and order figures cover the quarter. “More consumers are shopping on Meesho, and they are shopping more frequently,” said Vidit Aatrey, the company’s chairman, managing director and CEO.
Meesho said its Mega Blockbuster Sale moved from Q2 FY26 to Q3 FY27, the December quarter. To account for the change in timing, the company compared NMV across the 90 days before Dussehra on a festive-aligned basis and reported 33% growth. That comparison covers a different period from the 23% increase in quarterly NMV.
Contribution margin, measured as a share of NMV, rose to 6% from 4.6% in the previous quarter. Meesho attributed the increase to logistics efficiencies and improved monetization. It also said deliveries were about 15% faster than a year earlier and that it plans to reinvest some efficiency gains in the consumer and seller experience.
The results use different comparison periods: most quarterly figures are year-over-year, while contribution margin is compared with the previous quarter. The festive-aligned NMV figure covers the 90 days before Dussehra, while the quarterly NMV figure covers Q2 FY27.
