Ather Energy sells over 155,000 electric scooters in FY25; revenue up 29% to Rs 2,255 crore

Bengaluru-based electric vehicles maker Ather Energy reported a robust performance for FY25, delivering 1,55,394 scooters—a 42% year-on-year jump—while its revenue from operations climbed 29% to Rs 2,255 crore, up from Rs 1,753.8 crore in FY24.

In the last fiscal year, Ather sold 109,577 scooters. On the other hand, its main rival, Ola Electric, led by Bhavish Aggarwal, claimed it registered 3,44,005 units in the fiscal year 2025 (FY25) with a market share of 30%.

Rise in total income

The company's total income for the year reached Rs 2,305 crore, driven by strong sales of its flagship models, including the recently launched Rizta, which accounted for 57% of volumes in the latter half of the fiscal.

Ather also expanded its national footprint, adding 143 experience centres to end FY25 with 351 stores, while ramping up its fast-charging infrastructure to 3,611 points across the country.

Ather's bottom line showed marked improvement: net losses narrowed 23% to Rs 812.3 crore in FY25 from Rs 1,059.7 crore in FY24, while EBITDA margins improved significantly by 1,300 basis points to -23%, compared to -36% in the previous fiscal.

The company attributed these gains to operational efficiency, in-house design and engineering, and cost-saving measures across its supply chain. Adjusted gross margins more than doubled, rising from 9% in FY24 to 19% in FY25.

Q4 growth

Q4FY25 continued this trend of growth, with revenue from operations increasing 28% YoY to Rs 676.1 crore and total income reaching Rs 687.8 crore. The quarter saw the company sell 47,411 vehicles, a 35% rise over Q4FY24. Adjusted gross margins in Q4FY25 stood at 18%, with EBITDA losses narrowing in tandem.

Ather's software subscription product Atherstack also saw high adoption, with 88% of customers opting for the Pro Pack—contributing to higher per-unit economics and improving non-vehicle revenue share to 12% of the overall mix.

Ather's market leadership remained strong in southern states, where it commanded a 22.4% market share in Q4FY25. It also began making inroads in western and northern markets, with store growth focused outside the South.

CEO and Co-founder Tarun Mehta said FY25 was a year of "robust growth," highlighting product launches, distribution expansion, and continued margin improvement. "Our adjusted gross margins grew by 1,000 bps, and that helped reduce EBITDA losses significantly. Our software revenues and pan-India presence are both scaling well," he said.