The electric two-wheeler maker’s revenue surged 29% to ₹676 crore in the quarter under review. The same was ₹523 crore in the corresponding quarter of last year.
Ather Energy’s earnings before interest, taxes, depreciation and amortization (EBITDA) loss stood at ₹172.50 crore as against a loss of ₹
238.50 crore from a year ago period.
Ather Energy was listed at a premium of 2.18% at ₹328 on NSE, and a premium of 1.6% at ₹326.05 on BSE. This compares to the IPO issue price of ₹321.
The ₹2,981 crore IPO drew a relatively subdued response across categories. Retail investors subscribed 1.78 times their allocated portion, followed by qualified institutional buyers at 1.70 times. The non-institutional investors’ portion lagged at 66% subscription, while the employee quota saw robust demand at 5.43 times.
The public offer was open for subscription from April 28 to April 30.
Ather Energy will use the IPO proceeds for funding its new factory in the western state of Maharashtra, as well as for research and development, repayment of debt, marketing, and general corporate purposes.
In an interaction with CNBC-TV18, Ather Energy CEO Tarun Mehta said that he is bullish on near-term growth, margin, volume and market share should trend higher in FY26. Mehta expects FY26 volume growth to be better than what the company had seen in the first nine months of FY25.
Mehta also said that Ather Energy’s EBITDA breakeven and cashflow positive timeline will be close to each other.
Shares of Ather Energy settled 3.11% higher on Monday after the results announcement at ₹309.55.
