Ola Electric rival Ather Energy's revenue jumps 29% to Rs 676 crore in Q4FY25; loss at Rs 234.4 crore

Bengaluru-based electric two-wheeler maker Ather Energy, which competes with Bhavish Aggarwal-led Ola Electric, reported a narrowed loss of Rs 234.4 crore in the fourth quarter of FY25 (Q4FY25), a 17% improvement over the Rs 283.3 crore loss recorded during the same period last year. 

The company's revenue from operations rose sharply by 29% year-on-year to Rs 676.1 crore, reflecting continued consumer interest in its growing lineup of electric scooters. Total income for the March quarter stood at Rs 687.8 crore, up 28% from the year-ago period, while expenses increased more modestly by 12%, reaching Rs 922.2 crore.

The company, which debuted on Indian stock exchanges earlier this month, continues to focus on expanding its footprint and improving cost efficiencies as it battles profitability pressures in an increasingly competitive EV landscape. 

For the full financial year FY25, Ather Energy reported operating revenue of Rs 2,255 crore, a 28% jump from Rs 1,753.8 crore in FY24. Its net loss for the year stood at Rs 812.3 crore, narrowing by 23% compared to the Rs 1,059.7 crore loss reported in the previous fiscal.

The quarterly results came just days after Ather Energy made its debut on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on May 6, 2025. The stock listed at Rs 326.05 on the BSE and Rs 328 on the NSE, both marginally above the IPO issue price of Rs 321.

However, shares quickly lost ground, closing at Rs 302.30 on the NSE and Rs 302.50 on the BSE by the end of the first day, down over 7% from opening levels.

The company's initial public offering had seen lukewarm investor response, with an overall subscription of 1.5 times. While institutional and retail investors subscribed at 1.76x and 1.89x, respectively, the non-institutional investor segment fell short, subscribing to only 69% of its allotment. The employee quota, however, was oversubscribed at 5.43x.

Despite the market volatility and persistent profitability concerns, Ather remains one of the most visible players in India's growing electric mobility sector. The company continues to face stiff competition from Ola Electric and other EV startups, even as it works to scale operations and improve margins.

In its DRHP, the company mentioned that a significant amount of IPO proceeds would be used towards establishing a manufacturing plant in Maharashtra, which would further scale its current production capacity.

While Ola Electric is yet to reveal its Q4 numbers, the Bhavish Aggarwal-led company posted a widened net loss of Rs 564 crore in the third quarter of the 2024-25 fiscal year (Q3FY25), a 50% jump compared to the Rs 376 crore loss in the same quarter of the previous year. At the same time, the company reported a 19.4% year-on-year fall in revenue from operations, which dropped to Rs 1,045 crore from Rs 1,296 crore.

Ather's Q4 performance signals operational discipline and revenue resilience, even as it navigates a broader slowdown in public market sentiment for growth-stage electric mobility ventures.