New Delhi: Meesho on Friday reported strong operating momentum for the December quarter, with Net Merchandise Value (NMV) rising 26% year-on-year to ₹10,995 crore, supported by a sharp increase in user activity and order volumes. Placed orders climbed 36% to 690 million, while annual transacting users grew 34% to 251 million, underscoring deeper penetration and higher repeat purchases on the platform.
The company said purchase frequency on a last-twelve-month basis improved to 9.78 times per user, up 9% year-on-year, signalling stronger habit formation, particularly in underpenetrated markets. Management noted that the quarter’s performance should be read alongside festive-calendar shifts—Diwali fell earlier this year—pushing some festival-led demand into Q2. Combined, Q2 and Q3 delivered NMV of ₹21,510 crore, up 37% year-on-year.
Meesho also highlighted technology-led improvements to onboard first-time users, including deep-learning recommendations and enhanced voice search, which aided conversion in regional language markets. Brand participation on Meesho Mall expanded, with players such as Dabur scaling up to reach value-conscious customers, the company said.
On cash flows, Meesho reported positive free cash flow of ₹56 crore on a last-twelve-month basis, supported by growth in NMV, minimal capex and a negative working capital cycle. The company ended December with a cash balance of ₹7,277 crore, including ₹4,088 crore raised via its IPO in December.
Founder and CEO Vidit Aatrey said the company will continue to prioritise platform health and disciplined growth, with “free cash flow per share” as its north star metric, even as it scales access and affordability across India’s mass-market e-commerce segment.