India’s Ather Energy posts narrower quarterly loss, aided by firm scooter demand

Indian electric scooter maker Ather Energy reported a sharply narrower first-quarter loss on Monday as strong demand for its Rizta scooters helped cushion the impact of higher costs. The Rizta scooter maker posted a net loss of 508. 7 million rupees ($5. 34 million) in the quarter ended June 30, compared with a loss of 1. 78 billion rupees a year earlier. Revenue surged about 90% to 12. 17 billion rupees while expenses rose 54%. Vehicle sales jumped 81% the quarter to 83, 173 units. Conflict in West Asia disrupted crude oil supplies, driving up plastics and polymers costs, the company said. India’s Ola Electric to invest $208. 5 million in EV, cell tech units The narrower loss was driven by strong demand for the family-focused Rizta scooters, which broadened its customer base beyond its traditional performance-focused models. EBITDA margin improved to 0. 8% from negative 15. 7% a year ago in the June quarter. Ather continued expanding its retail and charging infrastructure in Tier-2 and Tier-3 cities, helping boost sales volumes and improve operating leverage, the company said. Ather has been facing pricing and market-share pressure from rivals Ola Electric, TVS Motor and Bajaj Auto, amid an aggressive price war.

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