Ather electric scooters are seen outside the showroom in Mumbai, India.
Credit: Reuters File Photo
Bengaluru: Electric two-wheeler maker Ather Energy, on Monday, reported narrowed losses of Rs 234.4 crore in the January-March quarter of the previous fiscal year on the back of a boost in sales of its Rizta model, cooling in lithium prices of batteries and cost reduction.
It had posted a loss of Rs 283.30 crore in the year-ago period, it said in a regulatory filing. Its full year loss shrunk to Rs 812 crore from Rs 1,060 crore in the previous fiscal. The Bengaluru-headquartered company made its debut on the stock exchanges on May 6 this year.
“Our continued investments in engineering and research and development delivered a strong improvement in margins. Our R&D team was able to deliver a 30% price reduction,” said Executive Director and Chief Executive Officer Tarun Mehta during an analyst call.
The income from operations during the fourth quarter of the fiscal year 2025 jumped 29.5% to Rs 676.1 crore from Rs 523.4 crore a year earlier.
While the southern markets (Karnataka, Kerala, Hyderabad, Chennai) have been traditionally strong for the electric vehicle (EV) company, it has also been witnessing a substantial rise in sales in the non-southern markets. “We believe that non-south markets could be an important driver for growth in the coming days,” Mehta added.
It sold 1,55,394 vehicles in the fiscal year ended March 31, 2025, a 42% jump from previous year’s sales of 1,09,577 units. Its revenue from operations came in at Rs 2,255 crore, 29% increase from last year’s revenue of Rs 1,753.8 crore. Its software sales have continued to trend strongly, with 88% of customers buying it along with the vehicle.
Its adjusted gross margins doubled to 19% while earnings before interest, depreciation, tax and amortisation (EBIDTA) losses came in at Rs 530.7 crore.
In the fourth quarter of FY25 Ather added 86 stores, taking its total store count to 351. The company says it would rather create new variants and offer them at a more compelling price, instead of lowering its products’ price as input costs come down. While the industry had a decent FY25, Ather is of the view that fiscal year 2026 can be a comparatively stronger one, also aiding its volume growth.