EV maker Ather Energy’s revenue jumps 4.4 times, loss 2.5 times in FY23
Ather Energy’s net loss has jumped by 151.2 per cent year-on-year to Rs 864.5 crore in 2022-23 (FY23) as the electric two-wheeler maker continues to focus on expanding volumes and market share.
The company’s total revenue has increased by 336.6 per cent year-on-year to Rs 1,783.6 crore in FY23, according to Hero MotoCorp’s annual reports. Hero MotoCorp, India’s largest two-wheeler maker, owns about 37 per cent in Ather Energy.
Ather Energy did not respond to queries sent by Business Standard on this matter. However, a company executive stated that Ather is focused on expanding its sales right now and it will achieve profitability in “mid-to-long term”.
