Indian electric scooter maker Ather Energy reported its first quarterly profit on Monday, posting a consolidated net profit of Rs 1.26 crore in the second quarter of FY27, compared with a net loss of Rs 154.07 crore in the same quarter a year earlier, Inc42 reported. Reuters, via TradingView, said the Rizta scooter maker posted a second-quarter net profit of 15 million rupees — yaani Rs 1.5 crore on a standalone basis — compared with a loss of 1.54 billion rupees a year earlier, and that its shares rose 10 per cent after the results.
Source: Inc42
Operating revenue surged 62.9 per cent to Rs 1,464.2 crore in Q2 FY27 from Rs 898.9 crore a year earlier, and rose 20.3 per cent sequentially from Rs 1,216.9 crore in the June quarter, Inc42 reported. Including other income of Rs 62.7 crore, total income stood at Rs 1,527 crore, against Rs 940.7 crore a year earlier. The company had reported a net loss of Rs 51.1 crore in the preceding June quarter.
Source: Reuters via TradingView
The Hindu BusinessLine's Q2 results coverage also recorded Ather Energy's standalone profit at Rs 1.50 crore in Q2, alongside results from other companies reporting on October 26.
Source: The Hindu BusinessLine
Other income was crucial to the result: Inc42 noted Ather's operating revenue was Rs 61.5 crore lower than its total expenses of Rs 1,526 crore in the quarter, even as expenses grew 39.4 per cent — slower than revenue.
Capacity expansion announced
Alongside the earnings, Ather announced plans to add a combined 2.25 lakh units of annual manufacturing capacity across its Hosur factory and its upcoming Factory 3.0 at Chhatrapati Sambhajinagar, with a cumulative investment of Rs 122 crore, Inc42 reported. At Hosur, where existing annual capacity is 4.2 lakh units and peak utilisation is 98 per cent, the company plans to invest up to Rs 58 crore to add 75,000 units a year by December 2026, including Rs 53 crore for a new battery line expected by Q3 FY28.
At Factory 3.0, Ather will invest up to Rs 64 crore to add 1.5 lakh units of annual capacity over the planned 5 lakh units, expected to be completed in Q2 FY28. The first phase of Factory 3.0 is expected to be operational by Q3 FY27 and support production of the upcoming EL range of electric scooters. During the September quarter, the company also raised Rs 1,300 crore through a qualified institutions placement and Rs 200 crore through a preferential equity allotment, Inc42 reported.