Meesho has become India's first horizontal e-commerce firm to generate positive cash flow, reporting ₹232 crores for the financial year ending March 2024, showcasing a significant shift towards profitability.
Despite slowing e-commerce growth in India, Meesho's operating revenues grew by 33% to ₹7,615 crores, while its adjusted losses decreased sharply by 97%.
The Indian commerce market is reshaping with quick commerce firms like Blinkit and Zepto aiming to generate annual sales of around $6 billion, challenging established players.
Both Amazon and Flipkart handle 90% of deliveries in-house now, reflecting a trend towards greater control in the logistics and delivery sectors of e-commerce.
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