Indian ecommerce company, Meesho, saw a 33% rise in operating revenue to US$905.6 million, while cutting adjusted losses by 97% to US$6.36 million.

The company has reached a milestone as the first Indian horizontal ecommerce company to achieve positive cash flow.

Supported by SoftBank and Prosus, it reported an operating cash flow of US$27.6 million for the fiscal year ending March 2024.

Meesho reports that 45% of its customers come from smaller tier-4 cities or beyond. The company also states it has 145 million unique annual transacting users, approximately 10% of the country’s population.