In a surprising turn of events in India’s electric scooter market, Ather Energy has overtaken Ola Electric in quarterly revenue for the first time. This marks a major milestone for Ather and signals growing competition in the electric two-wheeler space.
Strong Revenue Growth for Ather
During the fourth quarter of FY2025, Ather Energy reported a revenue of ₹676.1 crore from operations. This is higher than Ola Electric’s revenue of ₹611 crore for the same period. Although Ola sold more electric scooters—51,375 units compared to Ather’s 47,411—Ather’s premium pricing and efficient operations helped it earn more revenue.
Ather’s growth in revenue is a result of its steady product strategy and focus on quality. The company has built a strong brand with its Ather 450 series, which is known for performance, durability, and smart features.
Quick Comparison: Ather vs Ola (Q4 FY2025)
| Category | Ather Energy | Ola Electric |
|---|---|---|
| Revenue (₹ Crore) | 676.1 | 611 |
| Units Sold | 47,411 | 51,375 |
| Net Loss (₹ Crore) | 234.4 | 870 |
| Loss Change (YoY) | ↓ 17% | ↑ 100%+ |
| Focus Segment | Premium Scooters | Mass-Market Scooters |
| Key Product | Ather 450 Series | Ola S1 Series |
Losses Under Control
Another key point is Ather’s success in reducing its losses. The company managed to narrow its losses by 17% year-on-year to ₹234.4 crore. On the other hand, Ola Electric’s losses more than doubled, reaching ₹870 crore in the same quarter.
This indicates that while Ola may be selling more scooters, its high spending and operational challenges are affecting profitability.
Reasons Behind the Shift
One major reason for Ola’s drop in revenue is reported to be delays and problems in vehicle registration. These issues slowed down deliveries and impacted the company’s sales numbers. Meanwhile, Ather has been improving its supply chain and customer service, which helped it grow faster in the same period.
Another factor is product positioning. Ather focuses on premium scooters, which cost more but also bring in higher profit margins. Ola, in contrast, sells larger volumes at more affordable prices but seems to be struggling to manage costs.
What This Means for the Market
This shift in market dynamics shows that the Indian electric two-wheeler market is still evolving. Companies are trying different strategies to win customers, and it’s not always the biggest seller that earns the most.
Ather’s performance proves that a focus on quality, customer satisfaction, and strong business management can lead to success—even against a larger competitor like Ola.