Bengaluru-based ecommerce platform Meesho reported an 88 per cent year-on-year decline in consolidated net loss for the March quarter of FY26, helped by higher order volumes, improved margins and operational efficiencies driven by artificial intelligence-led investments.
The company posted a net loss of Rs 166.3 crore in Q4 FY26, compared to Rs 1,391.4 crore in the corresponding quarter last year. The company had reported a loss of Rs 490.7 crore in the previous quarter. Revenue from operations rose 47 per cent year-on-year to Rs 3,531.2 crore from Rs 2,400 crore a year earlier.
For the full financial year FY26, Meesho’s losses narrowed 66 per cent to Rs 1,357.7 crore from Rs 3,941.7 crore in FY25, while annual net merchandise value (NMV) grew 39 per cent year-on-year to Rs 41,560 crore.
The company reported Q4 NMV of Rs 11,371 crore, up around 43 per cent year-on-year, while orders increased at a similar pace to 717 million. Annual transacting users grew 33 per cent to 264 million, with transaction frequency improving to 10.1 purchases per user annually.
Contribution margin recovered to 4 per cent of NMV during the quarter, while adjusted EBITDA for the marketplace segment improved 245 basis points quarter-on-quarter to negative 1.7 per cent of NMV, aided by logistics cost normalisation, operating leverage and network optimisation.
Total expenses rose 44 per cent year-on-year to Rs 3,807.1 crore in Q4 FY26 from Rs 2,636.8 crore a year ago, though expenses declined sequentially from Rs 4,071.3 crore in the December quarter.
AI Push Drives User Engagement
The company said more than 75 per cent of orders now come through personalised recommendation feeds powered by artificial intelligence. Meesho highlighted AI-based tools such as ‘Vaani’, its voice shopping assistant, and ‘GeoIndia’, its address intelligence system, as key drivers of accessibility for first-time online shoppers.
According to the company, Vaani crossed 1.5 million users within its first month and delivered a 22 per cent conversion increase among users adopting the feature. GenAI-powered seller voice agents are also handling around 300,000 calls daily to support merchants during promotional events.
Vidit Aatrey, Founder and Chief Executive Officer, Meesho, said India’s ecommerce penetration remains relatively low compared to other emerging markets, with only around 30 per cent of smartphone users shopping online. He added that artificial intelligence is helping reduce barriers for new users and accelerating adoption.
The compay said its branded products segment, Meesho Mall, grew 82 per cent year-on-year during the quarter, while content commerce grew 105 per cent with 1.4 million active order-generating content pieces on the platform. |
