EV-maker Ather Energy has reported a 78.8% rise in its revenue for the first quarter ended June 30, on the back of rising sales that have historically been led by demand for its family scooter, Rizta.
The Bengaluru-based company reported a revenue from operations of Rs 644.6 crore for the period compared to Rs 360.5 crore in the year-ago period. According to data from the Vahan vehicle registry, Ather sold 41,037 units during the quarter compared to 16,515 units in the same period last year.
Rising sales have also helped the company ease pressure on its bottom-line numbers. The Tarun Mehta-led company reported narrower losses of Rs 178.2 crore in Q1 FY26 compared to Rs 182.9 crore in the previous year.
However, despite the narrowing of losses, the company saw its expenses rise 1.5X to Rs 851.1 crore during the period.
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Despite year-on-year gains, the Tarun Mehta-led company saw a 4.7% dip in its quarter-on-quarter top-line numbers, from Rs 676.1 crore in revenue in the past quarter. However, the company managed to slash its losses by 24% by tightening its expenses in this quarter compared to Q4 FY25.
The Hero MotoCorp-backed company, which competes with Bhavish Aggarwal-led Ola Electric as well as legacy players TVS Motor and Bajaj, managed to inch closer to Ola Electric in market share and units sold in July. It was also the only EV manufacturer that managed to sell more units in July—a month marked by an overall slowdown in EV sales amid China’s import restrictions.
Meanwhile, the company is looking to recover from the immediate effects of the ongoing rare earth magnet shortage that has sounded alarm bells across the automotive industry. According to reports, the company is looking to slow down its production of electric two-wheelers, taking into account the limited stockpiles of rare earth magnets needed for manufacturing its vehicles.
Shares of Ather Energy were trading up 9.06% at Rs 378.7 apiece on Monday on BSE as of 2:52 PM IST.
Edited by Jyoti Narayan
