Mumbai, May 4 (PTI) Electric two-wheeler maker Ather Energy on Monday reported a 57 per cent decline in net loss to Rs 100.23 crore in the January-March quarter, compared with the corresponding period last year.
The company, which got listed on exchanges in May last year, had posted a loss of Rs 234.36 crore in the fourth quarter of FY25, as per a regulatory filing by the Bengaluru-based EV manufacturer.
Revenue from operations for the reporting quarter stood at Rs 1,174.66 crore, up 74 per cent from Rs 676.8 crore in March 2025, according to the filing.
For FY26, the net loss stood at Rs 517.17crore against a net loss of Rs 812.28 crore while revenue from operations were 3,671.76 crore as compared to Rs 2,255.01 crore in the financial year ended March 2025.
Growth during FY26 was driven by geographic expansion, a rapidly scaling retail footprint, and the continued strong performance of Ather's family scooter Rizta, the company said in a statement.
"FY26 has been a fantastic year for us across volumes, market share, and financial performance. We focused on building demand through strong product-led growth and scaling it through distribution," Tarun Mehta, Co-founder & CEO, Ather Energy said in a statement.
The company said it delivered 83,418 vehicles in Q4FY26, up 76 per cent year-on-year, supported by the expansion of its retail network to 700 Experience Centres, including 100 additions during the quarter.
This scale-up drove total income of Rs 1,214 crore, up 76 per cent year-on-year, with continued strength in non-vehicle revenue contribution.
Mehta said that the company's family scooter model Rizta helped it unlock a much larger addressable market, and with that, it expanded its retail network.
That demand translated into strong volume growth and better unit economics, he added.
"With our new scooter platform, EL, we have the opportunity to replicate the same growth levers at potentially a larger scale, going after the biggest total addressable market in the Indian E2W segment. Coupled with that, our investments in Factory 3.0 at AURIC will give us the scale and efficiency to serve that demand and set us up for the next phase of growth," Mehta added.
According to the company, volumes jumped 69 per cent year-on-year at a record 2,62,942 units in the previous fiscal, helping it achieve a market share of 18.6 per cent.
Rizta has been a key driver of the company's gaining market share across India with middle India seeing the fastest growth at 17.3 per cent in Q4 FY26 from 9.5 per cent a year ago, while rest of India grew to 12.1 per cent during the reporting quarter from 6.5 per cent in Q4 FY25, it said.
South India remained the strongest region, retaining leadership with a 23.5 per cent market share in the March quarter of previous fiscal, Ather said.
Ather said its charging ecosystem also scaled significantly during the year, with customers now having access to over 6,000 charging points powered by light electric combined charging system (LECCS), making it the largest fast charging network for two wheelers in the country.
Rizta has been a key driver of Ather's market share gains across India.
Middle India saw the fastest growth, with the share rising to 17.3 per cent in Q4 FY26 from 9.5 per cent a year ago, while Rest of India grew to 12.1 per cent in Q4 FY26 from 6.5 per cent in Q4 FY25. South India remained the strongest region, retaining leadership with a 23.5 per cent market share in Q4
The Adjusted Gross Margin for the fourth quarter of previous fiscal showed a substantial improvement, expanding by around 700 basis to 25 per cent, compared to 18 per cent in the corresponding quarter of year earlier, the company said.
At the same time, EBITDA (earnings before interest, taxes, depreciation and amortization) margin narrowed to a negative 2.5 per cent in Q4 FY26, a 2,080 bps year-on-year improvement, while EBITDA loss stood at Rs 30 crore. The improvement was driven by sustained volume scaling, operating leverage, and continued gains in unit economics, Ather Energy said.
Ather said its service network expanded in tandem to approximately 548 service centres in FY26, nearly two-times of its FY25 footprint, supporting a consistent customer experience as volumes scaled.
FY26 was marked by multiple supply chain crises, and there is an expectation of commodity costs to remain volatile and elevated in the short-term due to ongoing geopolitical factors, the company said and added resilient procurement and focus on engineering and cost optimisation ensured steady execution and margin improvement throughout the previous year.