Meesho Q2 FY27 Results: Consolidated Net Loss ₹132 Crore on Total Income of ₹4,259 Crore
Earnings
e-commerce marketplace
Blacklitt Research4 min read
Meesho Limited said in a filing on 28 Oct 2026 that its consolidated total income was ₹4,259.00 crore and its consolidated net loss was ₹132.45 crore for the quarter ended 30 Sep 2026. On a standalone basis, total income was ₹2,929.74 crore and net profit was ₹189.53 crore.
Key highlights
Consolidated
Including its subsidiaries
Total income: ₹4,259.00 crore, up 30.8% YoY and 11.3% QoQ
Net profit and EPS: net loss of ₹132.45 crore against ₹411.36 crore; basic loss per share ₹0.28 against ₹0.97
Revenue from operations: ₹4,131.58 crore, up 34.4% YoY and 11.3% QoQ
Standalone
The company on its own, without its subsidiaries
Total income: ₹2,929.74 crore, up 90.3% YoY and 14.4% QoQ
Net profit and EPS: net profit of ₹189.53 crore against ₹22.36 crore; basic EPS ₹0.41 against ₹0.05
Revenue from operations: ₹2,510.84 crore, up 80.5% YoY and 19.9% QoQ
Summary
Consolidated ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
4,259.00
3,254.91
+30.8%
3,826.40
+11.3%
Revenue from operations
4,131.58
3,073.67
+34.4%
3,712.81
+11.3%
Other income
127.42
181.24
-29.7%
113.59
+12.2%
-132.45
-411.36
+67.8%
-132.84
+0.3%
Profit before tax
-123.27
-330.50
+62.7%
-132.84
+7.2%
Finance costs
1.38
1.25
+10.5%
2.13
-35.2%
Depreciation
20.14
9.29
+116.8%
19.66
+2.5%
Tax expense
9.18
80.86
-88.6%
n/a
n/a
Net profit margin
-3.11%
-12.64%
+9.53 pp
-3.47%
+0.36 pp
EPS, basic (₹)
-0.28
-0.97
+71.1%
-0.28
0.0%
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
The consolidated net loss narrowed to ₹132.45 crore in the quarter ended 30 Sep 2026, from ₹411.36 crore a year earlier. Total income rose 30.8% to ₹4,259.00 crore over the same period, and the loss before tax was ₹123.27 crore against ₹330.50 crore.
Revenue from operations rose 34.4% to ₹4,131.58 crore from ₹3,073.67 crore, while other income fell 29.7% to ₹127.42 crore from ₹181.24 crore. Other income was 3.0% of total income this quarter. Depreciation rose to ₹20.14 crore from ₹9.29 crore, and finance costs were ₹1.38 crore against ₹1.25 crore.
The year-earlier quarter included exceptional items of ₹44.98 crore, described as expenses towards business combination and a full and final settlement in respect of a vendor dispute. Tax expense this quarter was ₹9.18 crore against ₹80.86 crore; the company says the incremental tax charge recorded in the quarter ended 30 Sep 2025 was on account of foreign exchange fluctuations and finalisation of the tax obligations.
The company says the internal reorganisation of its logistics business across group entities has no material impact on the consolidated results for the quarter and six months ended 30 Sep 2026.
Standalone ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
2,929.74
1,539.88
+90.3%
2,559.94
+14.4%
Revenue from operations
2,510.84
1,391.14
+80.5%
2,093.27
+19.9%
Other income
418.90
148.75
+181.6%
466.68
-10.2%
189.53
22.36
+747.5%
353.77
-46.4%
Profit before tax
189.53
103.22
+83.6%
353.77
-46.4%
Finance costs
1.29
1.25
+3.0%
2.00
-35.7%
Depreciation
19.25
8.30
+131.9%
18.79
+2.4%
Net profit margin
6.47%
1.45%
+5.02 pp
13.82%
-7.35 pp
EPS, basic (₹)
0.41
0.05
+720.0%
0.76
-46.1%
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone net profit was ₹189.53 crore for the quarter ended 30 Sep 2026, against ₹22.36 crore a year earlier and ₹353.77 crore in the quarter ended 30 Jun 2026. Total income was ₹2,929.74 crore, up 90.3% from ₹1,539.88 crore.
Revenue from operations rose 80.5% to ₹2,510.84 crore, and other income rose 181.6% to ₹418.90 crore from ₹148.75 crore. Other income was 14.3% of total income this quarter. Finance costs were ₹1.29 crore against ₹1.25 crore.
Standalone results for the quarter and six months ended 30 Sep 2026 are, the company says, not comparable with the year-earlier quarter and the quarter ended 30 Jun 2026, in view of the business reorganisation and demerger. The six months ended 30 Sep 2025 include a gain on demerger of ₹26,479.02 crore recorded as an exceptional item.
Inference
The Board approved the appointment of Sudhir Ganesh Sitapati as an Additional Non-Executive Independent Director for five years, from 28 Oct 2026 to 27 Oct 2031, subject to shareholder approval. Sitapati was also added to the Audit, Nomination and Remuneration, and Corporate Social Responsibility committees from the same date.
The company has agreed to buy 100% of Kirana Club Pte. Ltd. and a 0.41% stake in Retail Pulse Labs Private Limited for ₹202.09 crore, payable in two tranches subject to conditions; it expects the acquisition to be completed in the quarter ending 31 Dec 2026. It also made rights issue investments of ₹100.00 crore in Meesho Payments Private Limited and ₹75.00 crore in Meesho Grocery Private Limited.
Income tax demands of ₹1,499.74 crore for AY 2023-24, where the company has filed a rectification request and an appeal, and ₹572.07 crore for AY 2022-23, where the Karnataka High Court has granted an interim stay, are still open. The company says management is confident of a favourable outcome based on independent tax and legal advice. The company does not say when the proceedings will conclude.
Create a free account to read the rest of this article and the analysis that follows.
By continuing you agree to our Terms and Privacy Policy, and to receive updates from Blacklitt by email. You can unsubscribe anytime.
Disclaimer:
The information available on this article is provided for education and informational purposes only. It does not constitute or provide financial, investment or trading advice and should not be construed as an endorsement of any specific stock or financial strategy in any form or manner. We do not make any representations or warranties regarding the quality, reliability, or accuracy of the information provided. This website may contain links to third-party content. We are not responsible for the content or accuracy of these external sources and do not endorse or verify the information provided by third parties. We are not liable for any decisions made or actions taken based on the information provided on this website.
