of other income behind Ather's ₹1.26 crore Q2 FY27 profit
Ather's ₹1.26 crore Q2 FY27 profit rests on other income
Ather Energy, the electric scooter maker founded in 2013, made a profit of ₹1.26 crore in the September 2026 quarter (Q2 FY27), against a loss of ₹154.07 crore a year earlier, its 26 October results show. It sold 93,211 scooters, 42% more, and revenue rose 63% to ₹1,464 crore.
But the profit is smaller than its other income, money earned outside the business: ₹62.71 crore, up from ₹41.79 crore. Without it, the quarter was a loss of ₹61.45 crore. The profit is about ₹135 a scooter.
Ather's press release leads with EBITDA (profit before interest, tax, depreciation and amortisation) of ₹74.2 crore, a second positive quarter in a row. That is profit plus finance costs and depreciation, ₹74.17 crore, so it includes the other income. Leave it out and EBITDA was ₹11.46 crore, 0.8% of revenue. April to June, the first positive quarter, becomes a loss of ₹33.28 crore.
Most of that other income is interest on cash: ₹82.44 crore of ₹105.44 crore in the half year to September. And the cash keeps coming from investors. In the quarter Ather raised ₹1,750 crore from new shares sold to big institutions and chosen investors, and a first 25% paid on warrants, rights to buy shares later.
The business is getting better fast: before other income, the loss shrank 69% in a year, from ₹195.86 crore to ₹61.45 crore. But the profit, and both positive EBITDA quarters, rest on other income, most of it interest on investors' money. Scooters and services do not yet cover the costs.
Other income turned Ather's Q2 loss into a profit
Ather Energy's profit before tax, July to September 2026, in ₹ crore. Without ₹62.71 crore of other income, the quarter was a loss.
Ather Energy, NSE filing of 26 October 2026: consolidated results for the quarter to 30 September 2026 · Jul to Sep 2026
Without other income, Ather's EBITDA is barely positive
Ather Energy's EBITDA by quarter, in ₹ crore, as reported and with other income left out. Left out, Q1 FY27 is a loss and Q2 FY27 is ₹11.46 crore.
₹ CRORE
EBITDA as Ather reports itEBITDA without other income
EBITDA is profit before interest, tax, depreciation and amortisation. As reported, it equals profit before tax plus finance costs and depreciation, so it includes other income.
Ather Energy, NSE filings of 26 October 2026: consolidated results and press release for the quarter to 30 September 2026 · Q2 FY26, Q1 FY27 and Q2 FY27
Interest was 78% of Ather's other income in H1 FY27
Ather Energy's other income, April to September 2026, in ₹ crore. Most of it is interest on Ather's cash.
₹ CRORE, APRIL TO SEPTEMBER 2026
- Interest82.44 78.2%
- Everything else23.00 21.8%
Interest is the interest income the cash flow statement takes out of the half year's loss. Everything else is other income less that interest.
Ather Energy, NSE filing of 26 October 2026: consolidated results and cash flow statement for the half year to 30 September 2026 · Apr to Sep 2026