Electric vehicle firm Ampere reports a significant FY24 loss despite growth in three-wheeler sales.

Electric vehicle maker Ampere saw a 46% decline in income to Rs 612 crore in FY24, with losses surging to Rs 215 crore from Rs 20 crore in FY23. Despite a 59% drop in scooter sales, sales of electric three-wheelers grew 2.5 times to Rs 178 crore. Expenses fell to Rs 857 crore from Rs 1,172 crore, but the company spent Rs 1.40 for every rupee earned, with assets totaling Rs 352 crore including Rs 62 crore in cash.

3 months ago
4 Articles

Further Reading