One of the top three electric scooter makers, Ather Energy, shrunk its quarterly loss after its family e-scooter Rizta saw sales jump. The EV two-wheeler maker posted a Q4 loss of ₹100.23 crore, down from ₹234.36 crore for the same period a year ago.
Volumes for the three-month period soared 76 per cent to 83,418 units, lifting its ops revenue by more than 73 per cent to ₹1,174.66 crore.
Last month, THE WEEK covered the changing EV scooter market, where we spoke to Ather Energy’s chief business officer, Ravneet Phokela. “The industry is going through further consolidation and evolution,” he had then stated. “Any EV company that can aggressively pull off a monthly campaign to sell more than 10,000 units can upset the current rankings.”
Ather exploded into the EV market in 2018 with its youth-oriented 450 line of two-wheelers. But market giants TVS Motors and Bajaj Auto quickly gained ground, leveraging their massive ICE distribution networks and assets.
The supply chain crunch in 2025 did not help matters, which led to fluctuations in commodity prices.
Last week, Ather Energy CEO Tarun Mehta called for the inclusion of electric two-wheeler startups under the Production-Linked Incentive (PLI) scheme.
The CEO took to social media to tweet criticising the current eligibility norms, stating that new EV makers were at a cost disadvantage versus market incumbents.
"I have had the opportunity to engage with several policy makers on the topic of Auto PLI, excluding startups, and I just can't believe that they would think so," he critiqued.
Following the earnings release on Monday, Mehta stated, "Rizta helped us unlock a much larger addressable market, and with that, we expanded our retail network. That demand translated into strong volume growth and better unit economics."
For the entire financial year, Ather Energy earned a total income of ₹3,823 crore, up 66 per cent from the last fiscal period.