Indian e-scooter manufacturer Ather Energy posted a narrower quarterly loss on Monday, helped by a jump in sales during the year-end festive period.
The Bengaluru-based company reported a loss of ₹846 million ($9.2 million), compared to a loss of ₹1.98 billion a year earlier.
Ather was an early entrant in India’s electric two-wheeler market, with the launch of its 450 series of scooters in 2018, but has since lost ground to larger two-wheeler companies such as TVS Motor and Bajaj Auto, who have deeper pockets and wider distribution networks.
Ather has been expanding its presence in India’s northern and central regions and seeks to raise its market share through its top-selling family scooter, Rizta.
The company reported a 50.2% jump in its quarterly revenue to ₹9.54 billion. ($1 = 91.5540 Indian rupees)
