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Ather Energy shares surge to record high after June-quarter loss narrows
Ather Energy posted a consolidated net loss of ₹51 crore for the quarter, down from ₹178 crore a year earlier, alongside revenue from operations rising 88.8% to ₹1,217 crore.
Ather Energy shares jumped 18% to a record high of ₹1,500 on the BSE after the electric two-wheeler maker reported a sharp narrowing in its June-quarter loss, signaling continued improvement in operating performance, according to LiveMint Markets.
The company reported a consolidated net loss of ₹51 crore for the quarter, compared with a ₹178 crore loss in the same period a year ago. Revenue from operations rose 88.8% year over year to ₹1,217 crore, while consolidated total income increased 87.2% to ₹1,260 crore, supported by volume growth, calibrated pricing actions, and higher non-vehicle revenue contribution.
Non-vehicle streams, including software subscriptions, charging services, accessories, spares and servicing, accounted for 14% of total revenue during the quarter versus 13% a year earlier. Ather also swung to a positive consolidated EBITDA of ₹9 crore, compared with an EBITDA loss of ₹106 crore in the prior-year quarter.
Following the results, Nomura maintained a Buy rating and lifted its target price to ₹1,714 from ₹1,273, implying 34.6% potential upside. Nomura cited improving scale and operating leverage, expecting Ather to reach EBITDA breakeven by FY28 and pointing to an upcoming EL platform that could nearly double its total addressable market while reducing costs.