Meesho posts maiden profit in July, mulls IPO

Startup expects to close current FY with 40% growth in revenue run rate

- Sneha Shah

Meesho is looking at a public listing in the next 12-18 months after the e-commerce startup reported its maiden net profit in July, chief financial officer Dhiresh Bansal said.

Meesho, which had earlier raised more than $1 billion from Prosus, SoftBank and Facebook, among investors, expects to close the current financial year with 40% growth in revenue run rate, Bansal said in an interview. "Our January-June revenue run rate has been around $400 million and expect to end the year at a 40% compounded annual growth rate (CAGR)," he said. Meesho clocked a 54% rise in revenue in FY23.

The company, which was last valued at $4.4 billion, posted a net profit in low single digits in July, Bansal said without elaborating. "Four out of the last six months, we have been cash flow positive. We cannot predict a full year profitability just now," he added.