Ather Energy’s FY25 Surge: 1.55 Lakh Scooters Sold, 42% Sales Growth and Rs 2,255 Cr Revenue

Bengaluru-based electric vehicle maker Ather Energy has delivered a stellar performance in FY25, setting new benchmarks in the Indian EV two-wheeler market.

Ather’s FY25 Performance: Sales and Revenue Break Records

Ather Energy sold 1,55,394 electric scooters in FY25, marking a robust 42% year-on-year growth over the 1,09,577 units sold in FY24. This surge in sales propelled Ather’s revenue from operations to ₹2,255 crore, a 29% jump from ₹1,754 crore in the previous fiscal. The company’s total income for the year reached ₹2,305 crore, reflecting strong demand for its flagship models, especially the newly launched Rizta, which contributed 57% of volumes in the latter half of FY25.

Strong Q4FY25: Continued Momentum

The growth streak continued in Q4FY25, with revenue from operations rising 29% year-on-year to ₹676 crore, up from ₹523 crore in Q4FY24. Ather sold 47,411 vehicles in the quarter, a 35% increase over the same period last year. Adjusted gross margins stood at 18% for the quarter, and total income reached ₹687.8 crore.

Losses Narrow and Margins Improve

Ather made significant strides in improving its bottom line. Net losses narrowed by 23% to ₹812.3 crore in FY25 from ₹1,059.7 crore in FY24. EBITDA margins improved sharply by 1,300 basis points to -23%, up from -36% in the previous year. The company attributed this improvement to operational efficiencies, in-house design and engineering, and cost-saving measures across its supply chain. Adjusted gross margins more than doubled, rising from 9% in FY24 to 19% in FY25.

FundingOla Electric Approves Rs 1,500 Cr Fundraise; COO Hyun Shik Park ResignsFundingElectric Mobility Startup Yulu Raises $93 Million In Equity, Debt To Expand EV Fleet

Rapid Expansion: Stores and Charging Network

Ather continued to expand its presence across India. The company added 143 new experience centres, ending FY25 with a total of 351 stores nationwide. Its fast-charging network also grew to 3,611 points, making EV adoption more convenient for customers.

Software and Non-Vehicle Revenue Boost

Ather’s software subscription product, Atherstack, saw strong adoption, with 88% of customers opting for the Pro Pack. This contributed to higher per-unit economics and increased non-vehicle revenue share to 12% of the overall mix.

Market Leadership and Outlook

Ather maintained its leadership in southern states, commanding a 22.4% market share in Q4FY25, while also making inroads into western and northern markets. The company’s focus on product innovation, distribution expansion, and margin improvement has set a strong foundation for future growth.

“Our adjusted gross margins grew by 1,000 bps, and that helped reduce EBITDA losses significantly. Our software revenues and pan-India presence are both scaling well,” said Tarun Mehta, CEO and Co-founder of Ather Energy.

Competition Heats Up

Ather’s main rival claimed sales of 3,44,005 units in FY25, holding a 30% market share. Despite stiff competition, Ather’s strong growth and improving financials highlight its rising stature in India’s EV landscape.