Ather Energy Reports Impressive Financial Growth in Q2 FY26

Electric two-wheeler manufacturer Ather Energy has revealed its financial performance for the second quarter of the current financial year FY26. The company reported a striking 54% year-on-year growth in its operational revenue compared to Q2 FY25. Based in Bengaluru, Ather has outperformed its rival Ola Electric in revenue.

Ather’s revenue from operations surged by 54% to Rs 899 crore in Q2 FY26, up from Rs 583 crore in Q2 FY25, according to the quarterly report provided by the National Stock Exchange (NSE). When examining the half-yearly results, the company witnessed a 64% rise, reaching Rs 1,543 crore in H1 FY26 compared to Rs 944 crore in H1 FY25.

Cost Structure and Expenditure

Ather’s material costs, mainly driven by the procurement of batteries and components, constituted the largest part of its expenses. This expense rose by 50% to Rs 730 crore in Q2 FY26 from Rs 485 crore during the same timeframe last year, representing over 67% of total quarterly costs. Employee benefit expenses showed minimal change, remaining flat at Rs 114 crore in Q2 FY26 against Rs 110 crore in Q2 FY25. Likewise, depreciation and amortization costs also remained unchanged at Rs 43 crore during this period.

Overall, Ather’s total expenditure increased by 38% to Rs 1,095 crore in Q2 FY26, compared to Rs 796 crore in Q2 FY25. Consequently, net losses decreased by 20%, falling to Rs 157 crore in Q2 FY26 from Rs 197 crore in Q2 FY25.

EV Sales Performance

In the realm of electric vehicle (EV) sales, Ather Energy maintained its third position in October, recovering from stagnant growth in September to achieve a notable 53% increase with 28,061 registrations, thus capturing an impressive 19.53% market share. Additionally, the company surpassed Ola Electric in market capitalisation.

Ola Electric reported a nearly 46% year-on-year decline in its topline, totaling Rs 660 crore during the second quarter of FY26. However, the Bengaluru-based competitor managed to reduce its losses by 16% during the same period.

At the close of the trading session today, Ather Energy’s share price stood at Rs 624 per share, with a market capitalisation of Rs 23,751 crore ($2.5 billion).