India's Meesho slides to one-month low after posting a loss in June quarter
BUZZ-India's Meesho slides to one-month low after posting a loss in June quarter ** E-commerce marketplace Meesho's shares MEES.NS fall as much as 6.06% to a one-month low after reporting a net loss in June quarter
** MEES posts a net loss of 1.33 billion rupees, compared to loss of 2.89 billion year in the year-ago period
** While narrowing loss and earnings outlook remain positives, a shift in seasonality implies the ongoing September quarter earnings will be softer, says Jefferies
** While core marketplace losses declined YoY in June quarter, the losses from new initiatives such as Horizon-2 were much higher at 390 million rupees, a multi-quarter high, according to Jefferies
** MEES shares are down about 3% this week, on course for second weekly losses, according to exchange data
(Reporting by Bharath Rajeswaran in Bengaluru)
((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))
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