India, April 22 -- IPO-bound EV major Ather Energy managed to reduce its net loss for the nine-months ended December 2024 by 25.56% to INR 577.9 Cr from INR 776.4 Cr in the year-ago period.

The company disclosed the financials for the first three quarters of FY25 in its red herring prospectus filed with SEBI today. The EV major has cut the size of its IPO, which will be open for public bidding from April 28 to April 30.

Ather's revenue from operations zoomed 28.32% to INR 1,578.9 Cr in the three quarters of FY25 from INR 1,230.4 Cr in the same period last year.

Meanwhile, total expenses rose 11.7% to INR 2,195.3 Cr during the period under review from INR 1,855.5 Cr in the nine months ended December 2023.

(The story will be updated soo...