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Ather Energy’s net loss widens 22.5% to ₹1,060 cr in FY24

Inshorts · 1y ago

Ather Energy’s net loss widens 22.5% to ₹1,060 cr in FY24

Bengaluru-based two-wheeler electric vehicle (EV) manufacturer Ather Energy’s net loss widened 22.5% in the fiscal year ended March 31, 2024 (FY24), as per the annual report of Hero MotoCorp. The EV manufacturer’s net loss jumped to ₹1,059.7 crore in FY24 from ₹864.5 crore in FY23, as per the report.

Related News

Ola Electric clocks INR 1,242.7 Cr in Q1 FY24 sales, Nearly 50% of FY23 revenue

Inc42 · 1y ago

Ola Electric clocks INR 1,242.7 Cr in Q1 FY24 sales, Nearly 50% of FY23 revenue

Ola Electric has filed for an IPO to raise INR 5,500 Cr by issuing new shares. The startup's sales in the first three months of FY24 reached INR 1,242.7 Cr, almost half of the revenue reported in FY23. Ola Electric's primary source of revenue comes from two-wheeler sales. The company reported a net loss of INR 268 Cr in Q1 of FY24 and a net loss of INR 1,471.6 Cr in FY23. Its major expenditure is on procurement, which accounted for 76% of total expenses in Q1 of FY24. Ola Electric competes with Ather, Bounce Infinity, Hero, Revolt, TVS, Okinawa, among others.

Ather Energy FY24: Revenue Declines On Reduction In FAME-II Subsidy, Loss Up 23% To INR 1,060 Cr

Inc42 · 11m ago

Ather Energy FY24: Revenue Declines On Reduction In FAME-II Subsidy, Loss Up 23% To INR 1,060 Cr

Ather, a leading electric vehicle company, reported a decline in operating revenue by 1.5% YoY to INR 1,753.8 Cr in FY24 due to a reduction in government subsidies. In the previous fiscal year, Ather experienced a significant increase in revenue, with a 335% YoY jump to INR 1,780.9 Cr, but also faced a widened net loss of 2.5X YoY to INR 864.5 Cr. The company, which has filed for an IPO of more than INR 3,100 Cr, incurred a total expenditure of INR 2,674.2 Cr in FY24.

Ather Energy posts Rs 676 Cr revenue in Q4 FY25, narrows losses by 17%

Entrackr

Entrackr · 3m ago

Ather Energy posts Rs 676 Cr revenue in Q4 FY25, narrows losses by 17%

Electric two-wheeler maker Ather Energy has announced its financial results for the fourth quarter of FY25. The company reported a 29% year-on-year jump in its operating revenue compared to Q4 FY24. Ather’s revenue from operations increased by 29% to Rs 676 crore in Q4 FY25, from Rs 523 crore in Q4 FY24, according to its consolidated quarterly report sourced from the National Stock Exchange (NSE). For the full fiscal year (FY25), Ather Energy’s operating revenue increased 29% to Rs 2,255 crore in FY25 from Rs 1,754 crore in FY24. The company’s cost of materials, driven primarily by battery and component procurement, increased by nearly 16% to Rs 564 crore in Q4 FY25 from Rs 488 crore in the same period last year. Employee benefit expenses saw a decline of 29% YoY to Rs 109 crore in Q4 FY25 compared to Rs 154 crore in Q4 FY24. Depreciation and amortization costs rose 18% to Rs 45 crore, while other operational costs jumped nearly 47% to Rs 204 crore. Overall, Ather’s total expenditure grew 13% to Rs 922 crore in Q4 FY25, up from Rs 819 crore in Q4 FY24. For the full financial year ending March 2025, total expenses rose to Rs 3,117 crore as against Rs 2,674 crore in FY24. As a result, the company’s net losses reduced by 17% to Rs 234 crore in Q4 FY25 from Rs 283 crore in Q4 FY24. On a fiscal basis, its net losses came down 23% to Rs 812 crore in FY25 from Rs 1,060 crore in FY24. Ather Energy made its stock market debut on May 6, 2025, listing at Rs 328 per share on the NSE—2.18% above its issue price of Rs 321. However, the stock closed the day at Rs 300. On Monday, it rose 2.8% to trade at Rs 308.7 before market close, bringing its total market capitalization to Rs 11,497 crore ($1.34 billion). Ather's competitor Ola Electric, which saw a nearly 20% decline in operating revenue during Q3 FY25, has yet to file Q4 results.

After 4X growth in FY23, Ather Energy’s revenue declines in FY24

Entrackr

Entrackr · 1y ago

After 4X growth in FY23, Ather Energy’s revenue declines in FY24

Following over four-fold growth during the financial year ending March 2023, electric scooter manufacturer Ather Energy saw a modest 1.5% decline in scale during the previous fiscal year (FY24). Ather’s revenue from operations decreased to Rs 1,754 crore in FY24 from Rs 1,781 crore in FY23, as per disclosure made by its associate company Hero Moto Corp in NSE filings. The sale of scooters was the primary source of revenue for Ather while after-sale and subscription services were other income channels. The company has not revealed its cost breakup and losses for the fiscal year ending March 2024. The Tarun Mehta-led firm’s revenue jumped by 4.36X while its losses grew 2.5X to Rs 864.5 crore in FY23. Hero Moto Corp is an associate company of Ather and now controls nearly 42% stake with its recent investment of Rs 124 crore ($15 million) which materialized early this week. Ather has raised over $550 million to date and was valued at $750 million during its Series E round. As per Vahan data, Ather was the fourth largest two wheeler EV manufacturer which controlled 9.45% market share in May. Ola Electric maintained the top position followed by TVS and Bajaj. Ather sold 6,024 units in the last month, up from 4,000 units in April. In March, its total sales stood at 17,000 units. Besides selling electric scooters, Ather is also expanding its rapid charging network across the country. As of December last year, it had 1,600 charging stations with a plan to increase it to 2,500 by March 2024.

Ather brings ₹390 crore loss to Hero MotoCorp in FY24

Inshorts · 1y ago

Ather brings ₹390 crore loss to Hero MotoCorp in FY24

EV startup Ather Energy's loss attributable to Hero MotoCorp stood at ₹389.77 crore in FY24. Hero MotoCorp, which holds over a 40% stake in Ather, forged a partnership with Ather for an EV charging network. In FY24, Hero MotoCorp invested nearly ₹700 crore to increase its stake in Ather to 40.89% from 33.11% in FY23.

BigBasket’s B2B Arm Trims Losses To INR 1,415 Cr In FY24

Inc42 · 11m ago

BigBasket’s B2B Arm Trims Losses To INR 1,415 Cr In FY24

The B2B arm of Quick Commerce major BigBasket reported an operating revenue of INR 10,061 Cr in FY24, a 6% increase compared to the previous fiscal year. Expenses for the B2B arm rose by only 2% YoY, reaching INR 11,515 Cr. Employee-related costs decreased by more than 11%, going from INR 1,060 Cr in FY23 to INR 936.5 Cr in FY24.

Cashfree Payments’ net loss widens 46X to INR 133.1 Cr in FY23

Inc42 · 1y ago

Cashfree Payments’ net loss widens 46X to INR 133.1 Cr in FY23

Cashfree Payments, a fintech platform, reported a significant increase in net loss, widening it by 46X to INR 133.1 Cr in FY23 compared to INR 2.9 Cr in the previous year. Despite a YoY rise in operating revenue and commission income, the net loss surged due to a sharp jump in employee costs. Cashfree spent a substantial amount on payment gateway processing charges, employee benefits, advertising, and promotional expenses. The startup aims to expand its offerings and has received approvals from the Reserve Bank of India (RBI) for cross-border payments and to operate as a payment aggregator.

OPEN Spent INR 195 Cr To Earn INR 25 Cr Revenue In FY24

Inc42 · 11m ago

OPEN Spent INR 195 Cr To Earn INR 25 Cr Revenue In FY24

Indian startup OPEN, backed by Temasek, saw a 30% decrease in net loss for FY24, down to INR 170 Cr. The total expenditure also dropped 34% to INR 194.6 Cr. However, OPEN spent INR 7.84 for every rupee earned from operations in FY24.

IPO-Bound Ola Electric’s FY24 Net Loss Widens To INR 1,584 Cr, Revenue Jumps 90%

Inc42 · 1y ago

IPO-Bound Ola Electric’s FY24 Net Loss Widens To INR 1,584 Cr, Revenue Jumps 90%

Ola Electric, the electric mobility startup led by Bhavish Aggarwal, reported an increase in net loss for the financial year 2023-24. The company's net loss widened by 7.6% to INR 1,584.4 crore from the previous year. However, Ola Electric's operating revenue surged over 90% to INR 5,009.8 crore during the same period, driven by a substantial growth in vehicle sales. Ola Electric's initial public offering (IPO) is set to open for retail subscriptions from August 2 to August 6.

Swiggy DRHP: Revenue Crosses INR 10,000 Cr Mark In FY24, Loss Almost Halves

Inc42 · 11m ago

Swiggy DRHP: Revenue Crosses INR 10,000 Cr Mark In FY24, Loss Almost Halves

Swiggy's net loss for FY24 was INR 2,350 Cr, a decrease from the previous year's loss of INR 4,179.3 Cr. However, its operating revenue saw a 36% increase, reaching INR 11,247.3 Cr compared to INR 8,264.5 Cr in FY23. The company also improved its EBITDA margin from -46.4% in FY23 to -16.2% in FY24.

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