Meesho Narrows Losses in Q2 as Info Edge CEO Announces Departure

Indian e-commerce firm Meesho reported a 68% year-over-year reduction in net losses for the second quarter of fiscal year 2027, signaling progress toward profitability. Meanwhile, Info Edge announced a leadership transition as longtime CEO Hitesh Oberoi steps down.

Q2 FY27: Meesho Financial Performance

Meesho reported operating revenue of ₹4,131.6 crore, a 34% increase compared to the previous year. Net losses narrowed to ₹132.4 crore, even as total expenses rose 24% to ₹4,382.3 crore. The company attributed revenue growth to its core marketplace business, citing increased transaction frequency and user retention in Tier II markets. Logistics optimizations and AI-driven automation also contributed to improved contribution margins.

Emerging Business Initiatives

While core operations showed gains, Meesho’s newer ventures—including hyperlocal logistics, digital financial services, and AI services—recorded widened losses. Despite the immediate financial impact, management reported revenue growth in these segments and invested an additional ₹75 crore into Meesho Grocery to support expansion. The company anticipates these initiatives will become more viable as logistics efficiencies improve.

December 3, 2026: Info Edge Leadership Transition

Hitesh Oberoi will step down as MD and group CEO of Info Edge after nearly 27 years in an executive role. Founder Sanjeev Bikhchandani is set to assume the roles of executive vice chairman, MD, and group CEO. Oberoi will transition to a non-executive, non-independent director position, stating intentions to focus on entrepreneurship, education, and philanthropy. Info Edge also reported an 87% year-over-year surge in consolidated net profit to ₹649.8 crore for Q2 FY27.

Current Status and Outlook

Meesho management expects stronger growth in Q3, as the period will capture the company’s “Mega Blockbuster Sale,” which shifted from the second quarter last year. The company plans to maintain elevated spending throughout the Diwali season. Separately, Cognizant is reportedly in talks to invest in AI startup Sarvam, potentially valuing the firm between $3.5 billion and $4 billion as IT companies seek to bolster AI capabilities.