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Ather Energy's Q1 loss narrows to ₹178 crore, revenue soars by 79%
The company attributed the improvement to a shift towards more premium products in its portfolio, favourable commodity costs—particularly battery cells—and its continued focus on research and development-driven value engineering.
Tarun Mehta, Executive Director and CEO at Ather Energy, said, '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. We are now scaling up quickly across Middle India, which has ramped up faster than expected. Over the next quarters, there will be a larger footprint expansion in the Northern markets.'
Ather Energy's market share increased to 14% in Q1FY26 from 8% in Q1FY25. In South India, it held a 22% share, while in Middle India—which includes Gujarat, Maharashtra, Madhya Pradesh, Chhattisgarh, and Odisha—it more than doubled to 11% year-on-year, driven by retail network expansion.
The company sold 46,078 units in Q1FY26, marking an increase of 97% year-on-year, supported by demand for the Ather Rizta and the addition of 95 new Experience Centres (ECs) during the quarter.
After adding 86 ECs in Q4FY25, the network has now expanded to 446 ECs nationwide. The company is using multiple retail formats to suit different regions, aiming to reduce breakeven volumes and improve operational efficiency. Ather's charging network also grew to 4,032 points across India, Nepal, and Sri Lanka, up from 3,611 in the previous quarter.
Non-vehicle revenue, which includes offerings such as software, accessories, and services, accounted for 12% of total income. This higher-margin segment helped boost overall margins.
The results were announced during market hours, and the markets reacted positively as the stock rose by 14.9%, ending the day's trade at Rs 399.25 a piece on the BSE.
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