Ather Energy Reports First Quarterly Profit, Shares Jump 10%
Indian electric scooter manufacturer Ather Energy reported its first-ever quarterly profit on Monday, sending its shares up 10%. The company posted a net profit of ₹15 million for the quarter ended September 30, compared with a loss of ₹1.54 billion in the same period last year. Revenue rose 62.9% to ₹14.64 billion, supported by stronger sales and improved margins.
Ather Energy said margin expansion was driven mainly by its product mix and pricing decisions despite elevated input costs. Demand for its electric scooters has exceeded available production capacity, with its Hosur plant in Tamil Nadu operating at 98% utilisation. The company also launched its new Konarc scooter during the quarter, featuring a platform designed to improve manufacturing efficiency and scalability.
To meet growing demand, Ather plans to add annual production capacity of 75,000 units at its Hosur facility in December and another 150,000 units at its Chhatrapati Sambhajinagar plant in Maharashtra during the second quarter of fiscal 2028. The Hosur expansion includes a ₹530 million investment in a new battery line to diversify its supply chain. Rising fuel prices and growing interest in electric vehicles have also supported demand, although raw material costs and supply chain disruptions remain challenges.
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