Value ecommerce platform Meesho on Friday saw its consolidated losses widen to Rs 490 crore, even as it clocked 31% growth in its topline, in its first quarterly performance as a listed company. The Bengaluru-based company clocked Rs 3,517 crore in operating revenue, as compared to Rs 2,678 crore it posted in the corresponding quarter in the previous year. On a sequential basis, its topline increased by about 14% from Rs 3,073 crore.The company saw its losses widen to Rs 478 crore in the December quarter, as compared to a loss of just Rs 37 crore last year. However, its free cash flow stood at Rs 56 crore for the last 12 months, helped by its growth in Net Merchandise Value. “Our north star is Free Cash Flow per share, which captures the real cash generated after reinvestment and reflects the long-term economics of our business,” explained Vidit Aatrey, CEO at Meesho, in a press note shared with exchanges. Shares of the company closed 2.87% higher at Rs 173 apiece on NSE. Meesho runs a marketplace model where it acts as a platform that aggregates sellers, customers and logistics partners with no inventory or assets of its own. It clocked… Read MoreYourStory RSS Feed
