Mumbai, Aug 4 (IANS) Electric two-wheeler maker Ather Energy on Monday reported a 5 per cent quarter-on-quarter (QoQ) drop in revenue to Rs 645 crore for the first quarter (Q1) of FY26 compared to Rs 676.1 crore from March quarter (Q4 FY25).

Total income also followed suit and fell 2.17 per cent sequentially to Rs 672.9 crore from Rs 687.8 crore, according to its stock exchange filing.

However, on year-on-year (YoY) basis, the revenue from operations up by 79 per cent from Rs 368.4 crore in the same period previous year (Q1 FY25).

Total income also jumped 82.65 per cent on YoY basis, the company said in its regulatory filing.

The company posted a net loss of Rs 178 crore for the quarter, narrowed from the Rs 183 crore loss a year ago.

The electric two-wheeler maker’s net loss is lower than the Rs 234 crore loss in the March quarter.

The Tarun Mehta-led company’s total expenditure grew 54 per cent to Rs 851 crore in Q1 FY26, up from Rs 551 crore in a year-ago period.

As per the filing, cost of materials, primarily driven by battery and component procurement, made up the largest share of its expenditure as it increased by nearly 74 per cent to Rs 503 crore.

This cost accounted for over 61 per cent of the total expenses during the quarter.

Employee benefit expenses saw a surge of 37 per cent YoY to Rs 119 crore in quarter under review, compared to Rs 87 crore in same quarter previous fiscal.

Earnings before interest, tax, depreciation and amortisation (EBITDA) stood at Rs 134 crore, a turnaround from a Rs 127 crore loss previous year, although it narrowed from the Rs 172 crore loss in the previous quarter.

Ather also recorded a rise in other income to Rs 28 crore from Rs 8 crore a year earlier, the company added in its filing.

Retail volumes in the quarter grew 1 per cent sequentially and more than doubled compared to previous year, increasing by 2.5 times.

Gross margins stayed steady at around 80 per cent both QoQ and YoY.

Following the earnings announcement, Ather Energy shares rose 12.81 per cent to Rs 391.8 on National Stock Exchange (NSE) on Monday.

–IANS

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