Meesho drops over 4% 8th straight day market cap 77,088cr
Business
Meesho's stock dropped over 4% on Thursday, making it eight days in a row of losses, the longest streak the company has ever seen.
Even with this rough patch, Meesho's shares are still more than 50% above their IPO price of ₹111 and its market cap stands at ₹77,088 crore.
Meesho revenue 3,531cr loss 166cr
Meesho saw its revenue jump by 47% year-over-year to ₹3,531 crore last quarter, and net loss narrowed to ₹166 crore.
However, if you leave out last year's big one-time loss, the recent quarter's loss is actually higher.
Contribution margins improved slightly but are still below previous highs.
Free cash flow turned negative as Meesho invested more in scaling up and logistics, showing it is betting big on growth despite the challenges.