Ather Energy's Electrifying Path to Profitability: Breaking New Grounds
Ather Energy reported an 18% reduction in losses for the March quarter, driven by improved gross margins and increased sales volumes. The company sold 47,411 two-wheelers, representing a 35% growth, and expanded its retail footprint by 32%. Ather's strong market position and product launches, like the Rizta scooter, are paving the way for profitability.
- Country:
- India
Ather Energy, a prominent electric two-wheeler manufacturer, announced an 18% decrease in losses for the March quarter, amounting to Rs 234.40 crore, aided by enhanced gross margins.
The company's revenues surged by 29.5% to Rs 676.1 crore, compared to the previous year. During this period, Ather retailed 47,411 units, marking a substantial 35% annual growth.
The recent launch of the Rizta scooter has significantly boosted sales and market share. The company also expanded its retail presence by 32%, closing the year with 351 centers nationwide, contributing to increased market penetration.
(With inputs from agencies.)
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