DELHI Delhi: Electric vehicle (EV) maker Ampere's total income from operations declined by 46 per cent to Rs 612 crore in FY2024 from Rs 1,124 crore in FY2023. Ampere's loss also widened by almost 11 times in the last financial year. increased to Rs 215 crore, which was Rs 20 crore in FY 2023. If the company's turnover of Rs 477 crore If non-operating (one-time costs) are included, the company suffered a huge loss of Rs 693 crore in FY2024, according to its financial statements with the Registrar of Companies (ROC).
The decline in the company's earnings was due to decline in scooter sales. Along with electric scooters, Ampere also offers three-wheeler electric vehicles. Electric scooters accounted for 70 percent of the company's sales in fiscal year 2024.
The company's income from EV scooters declined by 59 percent to Rs 432 crore. However, sales of electric three-wheelers increased 2.5 times year-on-year to Rs 178 crore. In the last financial year, Ampere earned Rs 29 crore from non-operating activities and Rs 2 crore from scrap sales. The share of material costs in the company's total expenses was 61 per cent in FY24. In FY24 it declined by 40 percent to Rs 526 crore. Ampere hired more employees in FY24. Due to this, the company's employee expenses increased by 48.5 per cent to Rs 101 crore in FY24. The company spent Rs 857 crore on advertising, legal, warranty, contracts and other items in FY24. According to its financial data, it stood at Rs 1,172 crore in FY23. The company's ROCE and EBITDA stood at (-) 45.4 percent and (-) 27.46 percent due to losses in FY24. In the last financial year, the company spent Rs 1.40 to earn one rupee. Ampere had assets worth Rs 352 crore in FY 2024. This includes cash and bank balance of Rs 62 crore.
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