Ather Energy posts September quarter profit stock jumps nearly 14%
Business
Ather Energy's stock jumped nearly 14% on Monday after the electric scooter maker reported a consolidated net profit for the September quarter, a big shift from last year's losses.
The buzz comes as Ather ramps up both sales and its plans for growth.
Ather Energy plans ₹122cr capacity expansion
Ather turned a ₹154 crore loss last year into a ₹1.26 crore profit this quarter, with consolidated total income up 62% and scooter sales rising 42%.
To keep up with booming demand and a spike in pre-orders, Ather is investing ₹122 crore to expand production at its Hosur and AURIC plants, aiming to boost combined installed annual capacity to around 11.4 lakh units by Q2 FY28.