Internet & Catalogue Retail company Meesho announced Q2FY27 results Consolidated Financial Highlights: Revenue from operations: For Q2FY27, consolidated revenue from operations reached Rs 41,315.82 million, showing an increase of 11.28% QoQ from Rs 37,128.11 million in Q1FY27 and a growth of 34.42% YoY from Rs 30,736.72 million in Q2FY26. For H1FY27, it was recorded at Rs 78,443.93 million, up 40.64% YoY from Rs 55,775.38 million in H1FY26. Total income: In Q2FY27, consolidated total income stood at Rs 42,590.02 million, growing by 11.31% QoQ compared to Rs 38,264.03 million in Q1FY27 and by 30.85% YoY compared to Rs 32,549.12 million in Q2FY26. For H1FY27, it reached Rs 80,854.05 million, reflecting a YoY growth of 38.03% over Rs 58,576.93 million in H1FY26. Profit before tax (PBT): For Q2FY27, consolidated PBT resulted in a loss before tax of Rs 1,232.65 million, which represents a reduction in loss by 7.20% QoQ compared to a loss of Rs 1,328.35 million in Q1FY27, and a reduction in loss by 62.70% YoY compared to a loss of Rs 3,305.03 million in Q2FY26. For H1FY27, the consolidated loss before tax was Rs 2,561.00 million, showing a 55.12% YoY drop in loss from Rs 5,705.95 million in H1FY26. Profit after tax (PAT): For Q2FY27, consolidated PAT was a net loss of Rs 1,324.46 million, down marginally by 0.29% QoQ from a loss of Rs 1,328.35 million in Q1FY27, and down 67.80% YoY from a loss of Rs 4,113.60 million in Q2FY26. For H1FY27, the consolidated loss stood at Rs 2,652.81 million, decreasing by 62.14% YoY compared to a loss of Rs 7,007.18 million in H1FY26. Earnings per Equity Share (EPS): Basic and diluted consolidated EPS for Q2FY27 was a negative Rs 0.28, which remained flat QoQ against a negative Rs 0.28 in Q1FY27, and improved YoY from a negative Rs 0.97 in Q2FY26. For H1FY27, basic and diluted consolidated EPS was a negative Rs 0.54, up from a negative Rs 1.65 in H1FY26. Standalone Financial Highlights: Revenue from operations: For Q2FY27, standalone revenue from operations stood at Rs 25,108.35 million, representing a 19.95% QoQ increase from Rs 20,932.65 million in Q1FY27 and an 80.49% YoY increase from Rs 13,911.37 million in Q2FY26. For H1FY27, it reached Rs 46,041.00 million, up 34.50% YoY relative to Rs 34,230.13 million in H1FY26. Total income: During Q2FY27, standalone total income was Rs 29,297.38 million, expanding by 14.45% QoQ from Rs 25,599.43 million in Q1FY27 and by 90.26% YoY from Rs 15,398.83 million in Q2FY26. For H1FY27, standalone total income reached Rs 54,896.81 million, up 49.56% YoY from Rs 36,704.66 million in H1FY26. Profit before tax (PBT): Standalone PBT for Q2FY27 was Rs 1,895.25 million, decreasing by 46.43% QoQ from Rs 3,537.70 million in Q1FY27, but growing by 83.61% YoY over Rs 1,032.21 million in Q2FY26. For H1FY27, standalone PBT achieved Rs 5,432.95 million, down 97.94% YoY from Rs 264,080.76 million in H1FY26 (which included higher exceptional gains). Profit after tax (PAT): In Q2FY27, standalone PAT stood at Rs 1,895.25 million, declining by 46.43% QoQ against Rs 3,537.70 million in Q1FY27, but expanding significantly YoY compared to Rs 223.64 million in Q2FY26. For H1FY27, standalone PAT stood at Rs 5,432.95 million, down 97.93% YoY against Rs 262,779.53 million in H1FY26. Earnings per Equity Share (EPS): Basic standalone EPS for Q2FY27 was Rs 0.41 (diluted EPS was Rs 0.40), down QoQ from a basic EPS of Rs 0.76 (diluted EPS of Rs 0.75) in Q1FY27, and up YoY from a basic and diluted EPS of Rs 0.05 in Q2FY26. For H1FY27, basic standalone EPS was Rs 1.15 (diluted EPS was Rs 1.14), compared to a basic EPS of Rs 61.74 (diluted EPS of Rs 60.96) in H1FY26. Business Highlights: Segment-wise Performance - Marketplace: This segment comprises the marketplace for sellers and buyers, display of ads, logistics business, and content commerce. Segment revenue for Q2FY27 was Rs 41,198.94 million, up 11.14% QoQ from Rs 37,070.95 million in Q1FY27 and up 34.14% YoY from Rs 30,714.22 million in Q2FY26. For H1FY27, Marketplace revenue was Rs 78,269.89 million. The segment recorded a loss of Rs 1,304.91 million in Q2FY27 and a loss of Rs 2,694.12 million in H1FY27. Segment-wise Performance - New Initiatives: This segment includes the low-cost local logistics network for daily essentials, digital financial services, and AI services. Segment revenue for Q2FY27 stood at Rs 116.88 million, climbing by 104.48% QoQ from Rs 57.16 million in Q1FY27 and by 419.47% YoY from Rs 22.50 million in Q2FY26. For H1FY27, New Initiatives revenue reached Rs 174.04 million. The segment reported a loss of Rs 416.28 million in Q2FY27 and a loss of Rs 809.26 million in H1FY27. Business Reorganisation Impact: Following the demerger of e-commerce and grocery undertakings effective June 01, 2025, standalone operations transitioned to providing delivery services via the Valmo channel. A subsequent internal reorganization in March 2026 restructured these logistics functions across VTPL and MTPL to enhance focus and specialization, making the standalone sequential and historical periods not fully comparable. Vidit Aatrey, Chairman, Managing Director & Chief Executive Officer, Meesho, said: "Our Q2 performance reflects the strength of Meesho's operating model, with NMV growing 23% YoY to Rs 12,911 crore and Annual Transacting Users reaching 284 million. More consumers are shopping on Meesho, and they are shopping more frequently, even as first-time buyers grew 16% QoQ. This momentum extended into the festive season, with NMV growing 33% YoY on a festive-aligned basis, reinforcing our conviction in the depth of India's e-commerce opportunity. As we grow, the benefits of scale are increasingly translating into stronger platform economics. Contribution Margin expanded to 6.0% of NMV, driven by logistics efficiencies and improved monetisation. At the same time, AI is fundamentally changing how we build and operate Meesho, with engineering productivity increasing 171% between March and September 2026. Our focus remains on reinvesting these efficiency gains into better consumer and seller experiences, accelerating innovation and building a larger, more efficient marketplace that can generate sustainable free cash flow over the long term." Result PDF