Meesho Q3 results: Net loss widens to ₹491 crore, revenue surges 31% YoY

In the corresponding period of the previous fiscal year, it had logged a loss of ₹37.43 crore.

Meesho posted a 31% year-on-year (YoY) increase in its revenue from operations to ₹3,517.6 crore during the quarter, compared to ₹2,678.64 crore in the December quarter of the 2024-25 fiscal year (Q3 FY25).

Its expenses increased by about 44% YoY for the quarter, especially in the category of "other expense", which has been a significant portion of the total spending across the reported period.

The e-commerce firm posted expenses of close to ₹4,071 crore, out of which "other expenses" stood at ₹3,821.3 crore, or about 94%, of the total during the reported quarter.

The company during the quarter recorded a 36% YoY increase in placed orders to 69 crore, while annual transacting users grew 34% YoY to 25.1 crore, the statement said.

Driven by strong user growth and increasing purchase frequency, Meesho reported net merchandise value (NMV) of ₹10,995 crore in the third quarter of FY26, representing 26% YoY growth.

Meesho’s cash balance stood at ₹7,277 crore, including ₹4,088 crore raised through its initial public offering in December.

The company said NMV growth in the quarter needs to be viewed in the context of festive calendar shifts.

It said Diwali fell in mid-October in 2025, compared to early November in 2024, which led to a shift of some festival shopping from the third quarter into the second quarter.

"Meesho Mega Blockbuster Sale started on September 19, 2025, vs September 27 in 2024. Hence, a more meaningful comparison combines Q2 and Q3 FY26 for festive calendar shifts. Together, these quarters delivered ₹21,510 crore in NMV, growing 37% YoY," the statement said.

What the CEO said

Commenting on the earnings, Vidit Aatrey, Founder and CEO of Meesho, said: “Our Q3 results reflect the strength of Meesho’s flywheel, with more users transacting more frequently, driving platform growth while building long-term habits in previously underserved markets. Today, we serve 251 million consumers and enable business growth for 846,000+ sellers annually, many of whom are first-time e-commerce users.”

He added that Meesho becoming a public company has changed how it is accountable, “but it does not change what we optimize for, as platform health and disciplined growth remain our priority.”

Aatry further stated that the firm’s north star was Free Cash Flow per share, which captures the real cash generated after reinvestment and reflects the long-term economics of its business.

Meesho shares closed 2.87% higher at ₹173 per unit on the National Stock Exchange (NSE) on Friday. However, the results were declared after the market closed.

It has a total market capitalisation of ₹78,077.17 crore, as of January 31, 2026, according to data on the NSE.