New Delhi, Dec 23
Ampere's losses also surged nearly 11 times to Rs 215 crore last fiscal, from Rs 20 crore in FY23.
If the company's non-operative (one-time cost) of Rs 477 crore is included, then the company suffered a massive loss of Rs 693 crore in FY24, as per its financials with the Registrar of Companies (ROC).
The reason for the decline in the company's income was drop in its scooter sales.
Ampere also offers three-wheeler electric vehicles along with electric scooters. Electric scooters accounted for 70 per cent of the company's sales in FY24.
The company's income from EV scooters fell 59 per cent to Rs 432 crore. However, sales of electric three-wheelers grew 2.5 times year-on-year to Rs 178 crore.
In the last financial year, Ampere earned Rs 29 crore from non-operational activities and Rs 2 crore from the sale of scrap.
The share of material cost in the total expenses of the company was 61 per cent in FY24. It declined by 40 per cent to Rs 526 crore in FY24.