Akshata Sharma
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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 INR 1,059.7 Cr in FY24 from INR 864.5 Cr in FY23, as per the report. Hero MotoCorp owns 40.89% stake in Ather Energy on a fully-diluted basis.
The startup's revenue from operations rose 0.3% to INR 1,789.10 Cr during the year under review from INR 1,783.60 Cr in FY23.
Ather Energy is yet to file its financial statements for FY24 with the Ministry of Corporate Affairs.
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