Meesho’s Q2 Report Card, Info Edge CEO Quits & More

Meesho’s Q2 Snapshot

Meesho inched closer to profitability in Q2 FY27. The quarter saw the ecommerce giant rein in its losses, scale its revenues and improve its contribution margins. Yet macroeconomic volatility and loss-making new bets continued to weigh on its bottom line in Q2. 

Here’s a quick look at Meesho’s Q2 FY27 numbers: 

• Net loss narrowed 68% YoY to ₹132.4 Cr 
• Operating revenue rose 34% YoY to ₹4,131.6 Cr
• Total expenses increased 24% YoY to ₹4,382.3 Cr 

The Marketplace Engine: As usual, Meesho’s core marketplace vertical accounted for the biggest chunk of its revenues in Q2, driven by a growing base of active transacting users and higher order frequency. What also came in handy were expanding margins, optimised logistics, strong user retention across Tier II+ markets and AI-driven automation. 

Costly New Bets: On the flip side, Meesho’s newer initiatives – hyperlocal logistics, digital financial services and AI services – continued to widen their losses. However, revenues from these emerging businesses also rose sharply. The management sees faster deliveries, logistics efficiencies and AI eventually making these ventures more viable going forward.

In line with this, the listed company has invested an additional ₹75 Cr in Meesho Grocery to support its growth and financial requirements.

The Festive Cheer: Going forward, critics will be closely watching Meesho’s Q3 results as the quarter will capture a bigger portion of the company’s festive sales. This is because its ‘Mega Blockbuster Sale’ shifted from Q2 last fiscal to Q3 this year. The leadership expects Q3 growth to appear stronger, although it will require continued elevated spending during the Diwali period.

As the ecommerce giant continues its march towards profitability, here’s how Meesho fared on the financial front in Q2 FY27… 

From The Editor’s Desk

Info Edge CEO Quits After 27 Years

• Info Edge founder Sanjeev Bikhchandani will take over as executive vice chairman, MD and group CEO from December 3, 2026, succeeding Hitesh Oberoi, who is stepping down after nearly 27 years in a full-time executive role.
• Oberoi will remain on the board as a non-executive, non-independent director. He cited plans to focus more on education, entrepreneurship, investing, philanthropy and family.
• Info Edge’s consolidated net profit surged 87% YoY to ₹649.8 Cr in Q2 FY27, while revenue from operations rose 12.2% to ₹903.9 Cr. A 164.8% jump in other income to ₹428.4 Cr also contributed to profit growth.

Cognizant Eyes Sarvam Stake

• The AI giant is in talks to raise $300 Mn at a valuation of $3.5 Bn to $4 Bn, more than double its previous valuation of $1.5 Bn just four months ago.
• The potential investment will make Cognizant the second IT services major to back Sarvam after HCLTech, as IT firms look to strengthen AI capabilities amid growing automation risks to traditional outsourcing.
• Sarvam is expanding its enterprise AI business, with customers including LIC, SBI Life, IDFC First Bank, Tata Capital and CRED. It is also pursuing AI projects in the defence sector through an MoU with the defence ministry’s Headquarters Integrated Defence Staff.

Astrotalk’s Profit Zooms 10X In FY26

• The spiritual tech startup’s consolidated net profit jumped nearly 10X to ₹222 Cr in FY26, while operating revenue grew 55% YoY to ₹1,823 Cr. Profit before tax nearly quadrupled to ₹296 Cr.
• International revenue surged 2.6X to ₹621 Cr, contributing 34% of operating revenue. Ecommerce revenue more than quadrupled to ₹166 Cr as Astrotalk Store expands beyond astrology consultations into spiritual products.
• Cash flow from operations rose 21% to ₹229 Cr, while year-end cash and investments increased 41% to ₹917 Cr. The startup said it funded its expansion through internal cash flows. Astrotalk entered the unicorn club in August at a $1 Bn valuation following an ESOP buyback.

Moms Home’s Quick Commerce Bet

• Jaipur-based baby essentials brand grew quick commerce revenue from around ₹1 Cr in FY25 to ₹10 Cr in FY26, accounting for nearly 30% of its ₹35 Cr top line. Monthly sales have since approached ₹5 Cr, with the brand selling around 45,000 kits a month.
• Contribution margins have declined from 20-25% initially to 10-15%, amid inventory and replenishment challenges. The babycare brand has adapted by focusing on curated newborn and gifting kits and assembling products based on demand to reduce the risk of unsold inventory.
• Moms Home aims to generate ₹30 Cr in quick commerce revenue in FY27 and expects the channel to contribute up to 50% of overall revenue in the next 15-18 months. It is also exploring a $3 Mn fundraise and plans to strengthen direct-to-consumer deliveries as it looks to reduce dependence on third-party platforms.

CarTrade’s Mixed Q2

• The automotive classifieds company reported a consolidated net profit of ₹66 Cr in Q2 FY27, up 3% YoY and 16.2% QoQ. Meanwhile, operating revenue grew 10.2% YoY to ₹213.1 Cr and 5.9% sequentially. 
• Including other income of ₹23.1 Cr, total income stood at ₹236.2 Cr. Total expenses increased 6% YoY to ₹150.8 Cr but declined 0.9% QoQ. 
• The September quarter had no exceptional expenses, unlike the preceding quarter, which included a ₹3.1 Cr charge linked to salary restructuring under the new labour codes.

Inc42 Markets

Inc42 Startup Spotlight

Can Firi Make Beauty Shopping Less Overwhelming?

Beauty shoppers today have thousands of products to choose from. But more choices often mean more time spent researching what actually works. Firi is trying to solve this with its opinionated online store that uses AI to research and stock beauty products and delivers them in minutes.

A Curated Store: Founded in 2026, Firi leverages AI agents to analyse online reviews, Reddit discussions, YouTube content and ingredient lists to decide which beauty products to stock. It claims to have so far analysed 50 Mn+ reviews and shortlisted about 3,000 products from more than 3 Lakh beauty products globally.

Delivered In Minutes: Firi currently sells skincare, haircare and body care offerings through its only Beauty Studio in parts of Delhi NCR, where it offers deliveries in as little as nine minutes. The startup now plans to add more dark stores in the city before expanding to other markets. 

The Road Ahead: Backed by 360 ONE Asset and Better Capital, Firi plans to now expand into makeup, fragrances and other categories. It is also focusing on scaling its AI-led discovery and fulfilment model. With the homegrown online beauty and personal care market projected to become a $13 Bn opportunity by FY30, can Firi’s AI-led curation model redefine how India shops for beauty products?

Infographic Of The Day

CEO and cofounder Sriharsha Majety owns just 5.27% of listed foodtech giant Swiggy. So, who holds the rest?

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