Ather Energy narrowed its losses in the March quarter of FY25 to Rs 234.4 crore on the back of strong demand for its top-selling 'Rizta' family scooters. The electric two-wheeler maker had reported a net loss of Rs 283.3 crore in the Q4FY24.
The company's revenue from operations grew 29 percent to Rs 676 crore in the quarter under review. The same was reported at Rs 523.4 crore in the year-ago period.
The earnings before interest, taxes, depreciation and amortization (EBITDA) loss was reported at Rs 172.50 crore against a loss of Rs 238.50 crore from a year ago period.
Ather Energy's initial public offer got subscribed 1.43 times, backed by oversubscription in QIB and retail investor categories. The Rs 2,981-crore initial share sale had a price band of Rs 304-321 apiece.
The issue saw a muted debut on the stock market, opening with a modest 2 percent gain. This was the first mainboard public issue of the current financial year 2025-26. This is the second electric two-wheeler company to go public after Ola Electric Mobility floated its Rs 6,145-crore IPO in August last year.
Shares of Ather Energy surged 3.45 percent to quote at Rs 310.55 per share on the NSE at 3 PM.
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