India, Aug. 7 -- Is Ather Reving Enough?

Even though loss-making, Ather must be doing something right. As established rival Ola Electric juggles heavy losses and a tanking market share, the recently listed EV maker improved its overall margins in Q1 FY26 by slashing its losses by 26% sequentially. So, what drove Ather's run during the quarter?

Inside Ather's Glovebox: Ather brought down the cost of goods sold 25% to INR 1.12 Lakh in Q1 FY26 from INR 1.48 Lakh in FY24, helped by a decline in the prices of battery cells and other cost-cutting measures.

A healthy revenue contribution from its non-vehicle business (accessories, software, and services) further helped the company bring down losses. However, an industry-wide slow Q1 dented it...