Ather Energy’s Net Loss Widens by 18.5% in Q4 FY25
Electric vehicle (EV) maker Ather Energy reported a net loss of Rs 234.40 crore in the fourth quarter of the financial year 2025 (FY25).
New Delhi: Electric vehicle (EV) maker Ather Energy reported a net loss of Rs 234.40 crore in the fourth quarter of the financial year 2025 (FY25). This marks an 18.5% increase in its net loss compared to the Rs 197.8 crore loss reported in the third quarter (Q3) of the same year.
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Rising Expenses and Revenue Growth
Ather Energy’s total expenses rose to Rs 922 crore in Q4, which is an 8.7% increase on a quarterly basis and a 12.6% rise compared to the same period last year. Despite the growing expenses, the company’s revenue from operations saw a 29% increase, reaching Rs 676 crore in Q4, up from Rs 523.4 crore in the year-ago period.
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EBITDA Loss Reduction
The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) loss stood at Rs 172.50 crore, an improvement from the Rs 238.50 crore loss reported in the same period last year.
Stock Market Debut and Investor Sentiment
Ather Energy made a muted debut on the stock exchanges, with its shares listed at Rs 328 per share on the National Stock Exchange (NSE), marking a 2.18% gain from its issue price. On the Bombay Stock Exchange (BSE), it opened at Rs 326.05, a 1.57% rise. The company’s Rs 2,981 crore initial public offering (IPO) was met with lukewarm investor interest, with the issue being subscribed 1.43 times during the three-day bidding period from April 28 to 30.
On Monday, Ather’s stock rose by 3.11%, or Rs 9.35, closing at Rs 309.55 per share.
Ongoing Losses and Financial Outlook
Despite being one of the early players in India’s EV market, Ather Energy has not reported a profit since its founding in 2013 by Tarun Mehta and Swapnil Jain. The company’s red herring prospectus (RHP) highlights that it has been incurring losses every year, with no clear timeline for achieving cost-effectiveness or profitability.
For the financial year 2023–24, Ather Energy posted a pre-tax loss of Rs 1,059.7 crore, a sharp increase from its Rs 864.5 crore loss in FY23 and Rs 344.1 crore loss in FY22. At the same time, its revenue in FY24 stood at Rs 1,753.8 crore, slightly lower than the Rs 1,780.9 crore reported in FY23.
