1) both are mono thick fonts shapes are almost same
you can see the image(fontforge metrics window) below for checking shape difference, its almost null
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2) this difference i noticed while comparing two fonts in open office
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3) the major difference is meera support traditional script whereas lohit is following new script, so you need to choose right font according to your script need.
yeah, there are possibility of some rendering differences, bugs as they are depends upon GSUB rules of fonts and underlying rendering engine, it is not in the scope of this blog.