Ather Energy narrows Q1 loss, accelerates retail expansion in Middle India

The company’s national market share also improved significantly, rising to 14.3 per cent in Q1 FY26, up from 7.6 per cent in the same period last year

Electric vehicle maker Ather Energy reduced its net loss to ₹178 crore in Q1 FY26, down marginally from ₹182.9 crore in the same quarter last year, a decline of nearly 3 per cent year-on-year (y-o-y). The company reported a sharp surge in revenue, which rose to ₹644.6 crore from ₹360.5 crore, driven by sales and an expanding retail footprint.

Vehicle volumes grew by 97 per cent y-o-y to 46,078 units, primarily led by strong demand for Ather’s Rizta and the addition of 95 new Experience Centres across the country. The bulk of this expansion came from Middle India, which includes Gujarat, Maharashtra, Madhya Pradesh, Chhattisgarh, and Odisha.

Non-vehicle revenue- derived from Ather’s ecosystem offerings such as software, accessories, and service- contributed 12 per cent of total income. The company’s national market share also improved significantly, rising to 14.3 per cent in Q1 FY26, up from 7.6 per cent in the same period last year.

Commenting on the growth, Tarun Mehta, Executive Director and CEO of Ather Energy, said, “We are scaling up quickly across Middle India, which has ramped up faster than expected.”

Expanding footprint

He added that the company plans to deepen its footprint in Northern markets in the coming quarters. “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,” he said.

Industry-wide, electric two-wheeler (E2W) sales rose 32 per cent y-o-y to approximately 105,000 units in June 2025, with penetration rising to 7.3 per cent, up from 5.8 per cent in June 2024. However, E2W sales may face headwinds in the coming months due to China’s ban on rare earth magnet exports, Equirus Securities cautioned in its latest annual report.

Shares of Ather Energy closed at ₹399.25 on the BSE, up 14.97 per cent.

Published on August 4, 2025