Ather Energy narrows losses in Q2FY26 as revenue rises 54% year-on-year

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Electric scooter maker Ather Energy reported a rise in revenue from operations to Rs 898 crore for the quarter ended September 30, 2025, a 54% increase from Rs 583 crore in the same period last year. Sequentially, revenue was up 39% from Rs 644 crore in the June 2025 quarter, driven by higher deliveries and festive demand.

As a result, Ather’s net loss for the quarter stood at Rs 154 crore, narrowing from a loss of Rs 197 crore in the same quarter last year. On a sequential basis, losses also declined from Rs 178 crore in the June quarter. Total income stood at Rs 941 crore, up from Rs 599 crore in the year-ago period.

Total expenses increased 37% YoY to Rs 1,095 crore, led by higher raw material costs of Rs 736 crore. Employee benefit expenses were stable at Rs 114 crore, while other expenses climbed to Rs 187 crore from Rs 128 crore a year earlier.

In comparison, rival Ola Electric Mobility Ltd reported a narrower consolidated net loss of Rs 418 crore for Q2 FY26, against a loss of Rs 495 crore in the corresponding period last year.

However, its revenue from operations declined 43% YoY to Rs 690 crore from Rs 1,214 crore, reflecting weaker sales performance. Ola’s operating EBITDA loss also improved to Rs 203 crore from Rs 379 crore a year earlier, highlighting better cost efficiency despite the topline decline.

For the first half of FY26, Ather reported total income of Rs 1,614 crore, compared with Rs 967 crore in the same period last year. Losses for the half year stood at Rs 332 crore, narrowing from Rs 380 crore in H1 FY25.

Ather Energy also seems to be gaining ground in the market. The festive season powered a sharp surge in electric two-wheeler sales in October.

Ather registered its best-ever monthly performance, selling 26,713 units and securing a 19.6% market share, according to Vahan data. This put it ahead of Ola Electric, which slipped to fourth place with an 11.6% share and 15,481 units sold.