Ather Energy narrows loss as Rizta sales drive growth
The Bengaluru-based EV maker reported a loss of 1 billion rupees for the March quarter as sales volumes rose 76 percent. Revenue grew to 11.75 billion rupees.
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Ather Energy narrowed its quarterly loss to 1 billion rupees ($10.54M) as sales of its Rizta e-scooter drove a 73.8% revenue increase. The loss is down from 2.34 billion rupees a year ago, while volumes rose 76% to 83,418 units. Ather is gaining market share in India despite competition from legacy manufacturers with deeper capital reserves and distribution networks.
