Latest news with #Ather
Economic Times
3 days ago
- Automotive
- Economic Times
Ather Energy betters Q4 results where Ola Electric falters
Agencies Ather 450S and the Ola S1 X+ The once industry leader, Ola Electric, reported a dismal March quarter, with a sizeable fall in its revenue and losses expanding twofold. In comparison, the recently listed Ather Energy posted a decent improvement in financials for the quarter. For the quarter ended March, the Bhavish Aggarwal-led electric scooter maker reported a 62% decline in sales to Rs 611 crore, a precursor to the decline in market share two months later. The EV maker saw its loss double to Rs 870 crore, from Rs 416 crore in the year-ago period. Ola Electric's financials were impacted by a one-time issue with the registration process, founder Bhavish Aggarwal on an earnings call. In February, Vahan data showed only 8,652 registrations for Ola Electric, while the company claimed sales of 25,000 units in its filings. The discrepancy was attributed to a temporary backlog caused by ongoing contract renegotiations with registration service providers Rosmerta and Shimnit India. The issues have been resolved in the current quarter, the CEO said. Ather, the only other listed pure-play electric two-wheeler manufacturer, reported a 29% increase in operating revenue to Rs 676.1 crore, up from Rs 523.4 crore in the same period last year. Its losses narrowed 17% year-on-year (YoY) to Rs 234.4 crore on the back of rising volumes and improved margins. Ola Electric had the lead in units sold during Q4 at 51,375 scooters, but Ather managed a close 47,411 units. While the former has started deliveries on its Roadster X motorcycles, Ather is working on developing its own line, funded by a part of its IPO proceeds. "The performance of the Roadster X will be the key... While Ola Electric reports strong interest and positive feedback from early customers... we believe the electric motorcycle performance will be critical for the company, as it will be addressing two-thirds of the two-wheeler market through rural penetration; we will wait and watch the performance in the coming quarters," brokerage Kotak Institutional Equities said. Ola Electric managed to reduce expenses by 31.6% to Rs 1,306 crore, largely due to a nearly Rs 1,000 crore cut in material costs. Ather, on the other hand, saw expenses rise 12.6% to Rs 922.2 crore from Rs 818.7 crore a year ago, mainly due to higher material costs, even as employee benefit expenses declined 29% to Rs 109.1 Ola S1 maker has guided for a better June quarter, though. 'If you look at our Q1 outlook, we are sharing a revenue forecast of about Rs 800-850 crore, about 65,000 deliveries and a gross margin of about 28–30%, which is much higher than Q4,' said Aggarwal in a post-earnings company will be careful with allocating capital and managing risk, Aggarwal had said. Also Read: Ola Electric to focus on capital discipline, risk management: CEO Bhavish Aggarwal after dismal Q4 earnings Ather is targeting profitability, going forward. 'I think (there are) very strong levers for operating leverage in the coming quarters, which will hopefully get us to profitability soon. For us, profitability could happen at a lower scale than some of the other peers, given our more capital-light and more capital-efficient approach on business overall,' cofounder Tarun Mehta had said.
Time of India
3 days ago
- Automotive
- Time of India
Ather Energy betters Q4 results where Ola Electric falters
Ola Electric experienced a significant downturn in the March quarter, with revenue declining by 62% to Rs 611 crore and losses doubling to Rs 870 crore, attributed to registration process issues. In contrast, Ather Energy reported a 29% increase in operating revenue to Rs 676.1 crore and narrowed its losses by 17%. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads The once industry leader, Ola Electric , reported a dismal March quarter, with a sizeable fall in its revenue and losses expanding twofold. In comparison, the recently listed Ather Energy posted a decent improvement in financials for the the quarter ended March, the Bhavish Aggarwal-led electric scooter maker reported a 62% decline in sales to Rs 611 crore, a precursor to the decline in market share two months later. The EV maker saw its loss double to Rs 870 crore, from Rs 416 crore in the year-ago Electric's financials were impacted by a one-time issue with the registration process, founder Bhavish Aggarwal on an earnings call. In February, Vahan data showed only 8,652 registrations for Ola Electric, while the company claimed sales of 25,000 units in its filings. The discrepancy was attributed to a temporary backlog caused by ongoing contract renegotiations with registration service providers Rosmerta and Shimnit India. The issues have been resolved in the current quarter, the CEO the only other listed pure-play electric two-wheeler manufacturer, reported a 29% increase in operating revenue to Rs 676.1 crore, up from Rs 523.4 crore in the same period last year. Its losses narrowed 17% year-on-year (YoY) to Rs 234.4 crore on the back of rising volumes and improved Electric had the lead in units sold at 51,375 scooters, but Ather managed a close 47,411 units. While the former has started deliveries on its Roadster X motorcycles, Ather is working on developing its own line, funded by a part of its IPO proceeds Ola Electric managed to reduce expenses by 31.6% to Rs 1,306 crore, largely due to a nearly Rs 1,000 crore cut in material costs. Ather on the other hand saw expenses rise 12.6% to Rs 922.2 crore from Rs 818.7 crore a year ago, mainly due to higher material costs, even as employee benefit expenses declined 29% to Rs 109.1 Ola S1 maker has guided for a better June quarter, though. 'If you look at our Q1 outlook, we are sharing a revenue forecast of about Rs 800-850 crore, about 65,000 deliveries and a gross margin of about 28–30%, which is much higher than Q4,' said Aggarwal in a post-earnings company will be careful with allocating capital and managing risk, Aggarwal had is targeting profitability, going forward. 'I think (there are) very strong levers for operating leverage in the coming quarters, which will hopefully get us to profitability soon. For us, profitability could happen at a lower scale than some of the other peers, given our more capital-light and more capital-efficient approach on business overall,' cofounder Tarun Mehta had said.
Time of India
3 days ago
- Automotive
- Time of India
Ather Energy appoints Anjani Kumar as Chief Digital & Information Officer
Ather Energy , an Indian electric two-wheeler manufacturer, has appointed Anjani Kumar as its Chief Digital & Information Officer (CDIO) to spearhead its digital strategy and strengthen its technological infrastructure across various operations. Kumar, with over two decades of experience, will oversee digital platforms, IT infrastructure, and data capabilities to ensure technology remains central to Ather's growth as the company expands its product line and integrates software solutions. Anjani Kumar's role as CDIO will be pivotal in shaping Ather Energy's digital strategy. He will be responsible for strengthening the company's technology backbone, stated the company. Previous stints Kumar brings a wealth of experience to Ather Energy. His 24 years in the industry include driving digital transformation and IT innovation across diverse sectors. These sectors include automotive, technology, logistics, pharmaceuticals, and BFSI. He has held senior leadership positions at Fortune 500 companies. These include IBM, Nissan, Cognizant, Strides Pharma, and Tata AIG. In his new capacity, Anjani will lead the development of digital platforms and products. He will also oversee the strengthening of IT infrastructure, with a focus on cybersecurity. Enhancing the company's data-driven capabilities will also be a key priority. His responsibilities will extend to overseeing teams across WebTech, IT & Security, MES, Business Intelligence, and Digital Engineering. Swapnil Jain , Executive Director and CTO of Ather Energy, said "Ather has been digital-first and data-driven from day one, with a strong focus on systems from products to manufacturing to sales. Bringing all digital functions under a single leadership role helps build a unified digital thread across the organisation. Anjani's deep cross-industry experience will play a key role in simplifying and strengthening our complex digital infrastructure. We are very focused on building a stronger tech-led advantage for Ather's future.' Educational background Anjani Kumar's educational background includes a Post Graduate degree in Marketing & Management from Kelley School of Business, Indiana University (USA). He also holds a B.E. in Mechanical Engineering from NIT Rourkela. Anjani Kumar, said "By bringing in my multi-domain digital experience and combining it with Ather's commitment to first-principles thinking and deep engineering ethos, we will drive significant and transformative advancements. I'm excited to contribute to Ather's journey.' Kumar is a recognized industry leader. He has received several prestigious leadership awards. These include 'Digital Leader of the Year,' 'India's Top CIO,' 'Tech Icon,' and 'Digital Insurance Icon.' He frequently serves as a jury member and mentor for startup ecosystems.
NDTV
4 days ago
- Automotive
- NDTV
Ather Energy And Infineon Technologies Join Hands To Accelerate EV Innovation In India
In a significant step toward boosting India's electric vehicle ecosystem, Ather Energy, one of the country's leading electric two-wheeler manufacturers, has signed a Memorandum of Understanding (MoU) with Infineon Technologies Asia Pacific, a global leader in semi-conductor solutions. The agreement was formalised in Seoul, South Korea, and is aimed at advancing innovation in India's fast-growing EV sector. The partnership will focus on leveraging Infineon's cutting-edge semi-conductor technologies that include advanced micro-controllers and automotive-grade sensors, alongside Ather's proven expertise in designing high-performance Light Electric Vehicles (LEVs). The collaboration is expected to support the development of more efficient, reliable, and cost-effective EV solutions tailored for the Indian market. Swapnil Jain, Executive Director and CTO, Ather Energy, said, "At Ather, we've always believed that building great EVs starts with getting the fundamentals right - performance, efficiency, reliability. Our approach has always been grounded in first-principles thinking and deep engineering, questioning how every system can be made better, faster, and more efficient. That's where semi-conductor innovation becomes critical. Infineon's leadership in semi-conductors and system solutions brings deep expertise that aligns with our engineering-first approach. Our partnership with Infineon gives us access to advanced technologies that can help us improve key systems, from charging to safety and explore ways to reduce system complexity and cost. We're looking forward to seeing how this collaboration can help us push the boundaries, not just for our products, but for the larger EV ecosystem in India." As part of the agreement, both companies will jointly explore breakthroughs in sensing and safety features to enhance rider experience and vehicle performance. The effort will cover key areas such as energy efficiency, faster charging capabilities, and overall system reliability. These developments are expected to significantly improve the appeal and accessibility of electric two-wheelers for Indian consumers. Infineon, known globally for its semi-conductor innovations in the automotive sector, aims to bring its deep technical expertise to address India's unique mobility challenges. The joint initiative also aligns with India's broader goals of sustainable transportation and reduced carbon emissions.
Business Standard
21-05-2025
- Automotive
- Business Standard
Ather Energy launches its 2nd Experience Centre 'Ather Space' in Indore
Ather Energy has recently launched its second Experience Centre, Ather Space, in Indore, further expanding its network in Madhya Pradesh. At the Experience Centre, enthusiasts can purchase the Ather 450 performance scooters and the Rizta, Ather's first family scooter. This Ather Space also houses an Ather Gold Service Centre, built to provide customers with a seamless and premium service experience. The Ather Gold Service Centre also offers ExpressCare service, which enables customers to complete periodic maintenance within 60 minutes, is also available here. Currently, Ather has 14 service centres in Madhya Pradesh. At the experience centre, customers can get a detailed understanding of the scooters and test ride and experience them as well. Ather currently has 2 experience centres in Indore and 18 across Madhya Pradesh. As of March 31, 2025, Ather has also established 68 Ather Grid fast chargers across Madhya Pradesh. The Ather Grid is India's widest 2-wheeler fast charging network. As of March 31, 2025, Ather has installed 3,578 Fast chargers and Neighbourhood chargers across India.
