Ather Turns Profitable In Q2, Posts ₹1.3 Cr PAT

EV maker maker Ather Energy turned profitable in the September quarter of FY27, reporting a consolidated net profit of ₹1.3 Cr against a net loss of ₹154.1 Cr in the corresponding quarter last year. The company had reported a net loss of ₹51.1 Cr in the preceding June quarter. Operating revenue surged 62.9% to ₹1,464.2 Cr in Q2 FY27 from ₹898.9 Cr a year earlier. On a sequential basis, revenue increased 20.3% from ₹1,216.9 Cr. Including other income of ₹62.7 Cr, Ather’s total income stood at ₹1,527 Cr during the quarter, compared with ₹940.7 Cr a year earlier. While the company turned profitable, other income remained crucial to the outcome. Its operating revenue was ₹61.5 Cr lower than total expenses during the quarter. The improvement follows Ather turning EBITDA positive in Q1 FY27, when it reported an EBITDA of ₹9 Cr while remaining in the red at the net level. Ather’s total expenses increased 39.4% to ₹1,526 Cr in Q2 FY27 from ₹1,094.7 Cr, growing slower than its operating revenue. Ather To Expand Manufacturing Capacity Alongside its 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. The company will invest a cumulative ₹122 Cr for the planned expansion. Ather plans to invest up to ₹58 Cr, including taxes, at Hosur, where existing annual capacity stands at 4.2 Lakh units. The facility operates at 98% capacity utilisation during peak production. The EV maker plans to add capacity for 75,000 units annually at this facility by December 2026. The investment also includes ₹53 Cr for a new battery line, which is expected to be completed by Q3 FY28. At Factory 3.0, which is under construction, Ather will invest up to ₹64 Cr, including taxes, to add 1.5 Lakh units of annual capacity over the planned 5 Lakh units. This addition is expected to be completed in Q2 FY28. Both investments will be financed through a combination of debt and internal accruals. Ather said the expansion would help increase manufacturing output to meet business demand. During the September quarter, the company raised ₹1,300 Cr through a qualified institutions placement and another ₹200 Cr through a preferential equity allotment. The first phase of Factory 3.0 is expected to be operationalised by Q3 FY27 and support production of the company’s upcoming EL range line of electric scooters.

Source: Inc42 (India)