Ather Energy posted its FY24 results

23 October 2024

• Revenue and Profitability: Ather Energy saw a slight decrease in revenue during FY24, with total revenue from operations falling marginally from ₹1,784 Crore in FY23 to ₹1,754 Crore in FY24. This reflects a 1.7% decline in revenue. However, the loss increased from ₹865 in FY23 to ₹1,060 Crore in FY24, driven by higher expenses, including finance costs and depreciation, reflecting the company's ongoing investments in production capacity and R&D​.
  
• Financial Position: Total assets fell by 3.2%, decreasing from ₹1,977 crore in FY23 to ₹1,914 crore in FY24. Total Equity fell by 11.0% from ₹614 crore in FY23 to ₹546 crore in FY24.
  
• Future Prospects: Ather is expected to benefit from the continued global shift towards electric mobility, particularly with favourable government policies like the PLI scheme in India. The company's planned investments in expanding production capacity and rolling out new products such as advanced battery technologies are likely to fuel future growth. Despite the current financial losses, Ather is poised to enhance its market share as consumer adoption of electric two-wheelers accelerates. Ather is focusing on optimizing its supply chain, reducing costs, and increasing production efficiency, which should help improve margins in the coming years.