Ather Energy posts its first quarterly profit as revenue rises 63%

Ather Energy reported its first quarterly net profit on Monday, as the Bengaluru electric scooter maker sold more scooters at higher prices in the July–September quarter.

Consolidated net profit was ₹1.26 crore, compared with a loss of ₹154.07 crore a year earlier, according to the company’s results release filed with the stock exchanges. The Economic Times and Mint reported it as the company’s first quarterly net profit. Ather had posted a loss of ₹51.09 crore in the April–June quarter.

Revenue from operations rose 63 percent to ₹1,464.24 crore, from ₹898.88 crore a year earlier, and was about 20 percent higher than the ₹1,216.92 crore of the previous quarter. Total income, including other income, was ₹1,526.95 crore.

The company sold 93,211 scooters, up 42 percent. The average selling price rose to about ₹1,64,000 from ₹1,49,000 a year earlier, Mint reported, citing Ather’s investor presentation. Non-vehicle revenue, from software subscriptions, charging, accessories, spares and service, made up 15 percent of revenue from operations, up from 12 percent.

EBITDA was ₹74.2 crore, the company’s second consecutive quarter of positive EBITDA. The EBITDA margin was 4.9 percent, compared with minus 9.6 percent a year earlier and 0.8 percent in April–June. Adjusted gross margin rose 160 basis points to 24 percent, which the company attributed to product mix and pricing, even as prices of aluminium, copper, lithium and crude-linked plastics stayed high.

Ather said demand was running ahead of supply. Pre-orders more than doubled to 1.8 lakh in the quarter, and its plant in Hosur, Tamil Nadu, ran at 98 percent of capacity during peak production. Electric two-wheeler registrations in India rose 82 percent to about 5.98 lakh units in the quarter, the company said, citing government Vahan data.

The board approved capital expenditure of about ₹122 crore to expand production. Annual capacity at Hosur will rise to 4.95 lakh units from 4.2 lakh by December 2026. A new plant at AURIC in Chhatrapati Sambhajinagar, Maharashtra, is due to begin production in phases from December with annual capacity of 5 lakh units, which will be raised to 6.5 lakh. Combined capacity is expected to reach about 11.4 lakh units by the July–September quarter of 2027.

Co-founder and chief executive Tarun Mehta told analysts on Monday’s earnings call that profit was not the main measure he was watching. “PAT (profit after tax) is not the first thing to focus on. The real thing to focus on is top line and improving volumes will itself take care of a lot of things,” he said, according to Mint. He said higher prices of aluminium, copper, plastics and memory chips had been worse than expected.

Ather, founded in 2013 by Mehta and Swapnil Jain, listed on the stock exchanges in May 2025. It sells three scooter lines, the 450 series, Rizta and Konarc, which it launched in August.

The figures are unaudited. This report is not investment advice.