Ather Energy reports first quarterly profit and expands manufacturing

Bengaluru-based electric two-wheeler manufacturer Ather Energy has achieved its first-ever profitable quarter, reporting a net profit of ₹1.26 crore for the September quarter. This marks a significant turnaround from a net loss of ₹154.07 crore during the same period last year.

Revenue for the quarter rose 62.9% to ₹1,464.24 crore. While operating revenue was slightly lower than total expenses, the company achieved profitability through other income. Sales of scooters increased 42% year-on-year to 93,211 units.

To address demand that is currently outpacing production, Ather Energy plans to invest ₹122 crore to increase manufacturing capacity. The company will expand its Hosur plant in Tamil Nadu by 75,000 units annually and include a new battery line. Additionally, the planned facility in Chhatrapati Sambhajinagar, Maharashtra, will see its annual capacity increased from 5 lakh to 6.5 lakh units.