Ather Trims Q1 Loss By 3% YoY To INR 178 Cr

EV major Ather Energy managed to trim its net loss for the first quarter of the fiscal year 2025-26 (Q1 FY26) by 3% to INR 178.2 Cr from INR 182.9 Cr loss it incurred in the same quarter last year. 

On a sequential basis, the company’s loss reduced by 24% from the INR 234.4 Cr loss it incurred in Q4 FY25.

Ather’s top line zoomed significantly on a year-on-year (YoY) basis, jumping over 79% to INR 644.6 Cr from the INR 360.5 Cr operating revenue it registered in the same quarter previous year. 

On a quarter-on-quarter (QoQ) basis, the company’s operating revenue dipped by 5% from INR 676.1 Cr. 

Including an other income of INR 28.3 Cr, Ather’s total income for the quarter stood at INR 672.9 Cr. Meanwhile, its expenses surged 54% YoY to INR 851.1 Cr but subsided by 8% from INR 922.2 Cr expenditure the EV maker incurred in Q4 FY25.

EBITDA loss for the quarter stood at INR 106 Cr, down 12% from INR 120.5 Cr in the year-ago quarter. EBITDA margin also improved to -16% from -33% in Q1 FY25. In a statement, Ather said that its adjusted gross margin for the quarter zoomed 117% YoY and 25% QoQ to INR 154.8 Cr.  

The company said that the improvement in its margin was largely led by its focus on “R&D-led value engineering, a product skew of more premium offerings in the portfolio, and favourable commodity costs, particularly battery cells.”

The company sold 46,000 of its electric scooters in the quarter, marking a near 97% YoY uptick but a 3% decline from 47,411 units sold in the previous quarter. However, the contribution of revenue from sales of vehicles declined to 87% from 89% in Q4 FY25 and 88% in Q1 FY25.  

The company’s average revenue per E2W sold in the quarter also diminished significantly to INR 1.22 Lakh. In Q1 FY25, the average price of a vehicle sold by Ather was 10% more than this, standing at INR 1.35 Lakh. 

Important to note that Ather entered the “family scooter” E2W segment in April 2024 with Ather Rizta. Ather claims that the new escooter, which starts at a comparatively lower price of INR 1.09 Lakh in Bengaluru, has seen a robust demand since launch, leading to the growth in volumes. 

The sharp YoY uptick in the number of vehicles sold intersects with Ather’s aggressive geographical expansion across India. After establishing a strong presence in the Southern region, where it claims to be the number one E2W maker in terms of market share, the company is now focussing to improve its presence across the country. 

Ather added the highest 95 new experience centres in Q1 FY26, almost 10X the 10 stores set up in the same quarter year-ago. Ather said that it is deploying multiple retail formats tailored to different tiers, helping it lower breakeven volumes and improve operational efficiency. 

“We have had a phenomenal start to this financial year, led by Rizta’s success and a strong expansion of our retail footprint…Over the next quarters, there will be a larger footprint expansion in the northern markets. This quarter saw significant growth in our margins, demonstrating our strong focus on profitability. Even as we expand pan-India, our ASP has held steady, and our market share continues to grow,” Ather’s CEO Tarun Mehta said. 

Shares of Ather surged 14.97% from previous close to end today’s trading session at INR 399.25. The company’s shares touched an all-time high of INR 416.70 earlier during the day.