Ather Energy Ltd. reported its first-ever positive earnings before interest, tax, depreciation and amortisation (Ebita) and net profit in the September quarter, marking a significant milestone for the electric two-wheeler maker as revenue growth strengthened.
The company's consolidated revenue rose 62.8% year on year to Rs 1,464 crore in Q2, compared with Rs 899 crore in the corresponding quarter last year. Net profit stood at Rs 1.3 crore against a loss of Rs 154 crore a year earlier.
Ebitda came in at Rs 11 crore, compared with an Ebitda loss of Rs 132 crore in the year-ago quarter. The Ebitda margin stood at 0.75% in quarter ended September.
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
Ather Energy Q2 Result Highlights (YoY)
- Net Profit stands at Rs 1.3 crore versus loss of Rs 154 crore.
- Revenue up 62.8% at Rs 1,464 crore versus Rs 899 crore.
- Ebitda stands at Rs 11 crore versus Ebitda loss of Rs 132 crore.
- Margin stands at 0.75%.
READ | Infosys Stumbles As Much As 4% Post Q2: Is The Weak-Rupee IT Bubble Bursting?
The improvement in profitability came alongside strong revenue growth, with the company moving into positive territory at both the operating and net profit levels for the first time. Alongside its quarterly results, Ather Energy approved capital expenditure of Rs 122 crore for capacity expansion at its manufacturing facilities in Sambhajinagar, Maharashtra, and Hosur, Tamil Nadu.
The planned expansion is expected to support the company's manufacturing capacity as it scales up operations. The investment comes as Ather seeks to build on its revenue growth and improve its financial performance.
Ather Energy Share Price Today
After the results were announced shares of Ather Energy hit an upper circuit of 15% at Rs 1,587 per share on the NSE. This compares with a 0.46% advance in the benchmark Nifty 50. The shares have risen 8.77% in one week and 6.01% in one month. The shares are up 114.9% year-to-date and 124.69% in one year.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
