Electric two-wheeler makers in India have spent years chasing the same milestone: a quarter where the numbers stop looking like a controlled burn. Ather Energy appears to have finally gotten there, and it did so while nearly doubling its revenue in the process.
The Bengaluru-based company reported operating revenue of Rs 1,217 crore for the quarter ended June 2026, up 89% year-on-year from Rs 645 crore, according to its quarterly filing with the National Stock Exchange. Net loss narrowed sharply too, dropping 71% to Rs 51 crore from Rs 178 crore in the same quarter last year. Total income, including Rs 43 crore in other income, came in at Rs 1,260 crore. Perhaps the more telling detail is that Ather turned EBITDA positive for the first time in its history this quarter, a milestone electric vehicle makers chase for years before actually reaching.
Vehicle sales did the heavy lifting behind those numbers. Ather sold 88,655 scooters during the quarter, up 9% sequentially from 81,072 units in the previous quarter and more than double what it sold in the same period a year ago. Electric two-wheelers and related services remain the company's only disclosed revenue stream, though non-vehicle offerings like software subscriptions, charging, and after-sales services now make up a growing slice of the pie.
None of this growth came cheap. Cost of materials, dominated by battery cells and other components, surged 88% year-on-year to Rs 977 crore, pushing total expenditure to Rs 1,311 crore from Rs 851 crore a year earlier. Even so, the sheer scale of the volume increase was enough to outpace those rising costs and pull the bottom line into meaningfully better territory.
The results land against a mixed competitive backdrop. Vahan registration data shows Ather held onto third place in India's electric two-wheeler market through July, even as its monthly registrations dipped 8.3% to 28,819 units and its market share settled at 14.89%. The company recently cleared a Rs 1,200 crore preferential issue with backing from existing investors, capital that should help fund its next phase of expansion.
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