Ather Energy Q2 FY27 Results: Consolidated Net Profit ₹1.26 Crore

Earnings
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Blacklitt Research26 October 20263 min read

Ather Energy (NSE: ATHERENERG) reported a consolidated net profit of ₹1.26 crore for the quarter ended 30 Sep 2026, on consolidated revenue from operations of ₹1,464.24 crore, it said in a filing on 26 Oct 2026. The standalone net profit was ₹1.50 crore on total income of ₹1,526.91 crore.

Key highlights

Consolidated

Including its subsidiaries

Revenue from operations: ₹1,464.24 crore, up 62.9% YoY and 20.3% QoQ
Net profit and EPS: ₹1.26 crore; basic EPS ₹0.03, against a loss of ₹154.07 crore a year earlier
Finance costs: ₹26.04 crore, up 25.3% YoY
Other income: ₹62.71 crore, up 50.1% YoY

Standalone

The company on its own, without its subsidiaries

Total income: ₹1,526.91 crore, up 62.3% YoY and 21.2% QoQ
Net profit and EPS: ₹1.50 crore; basic EPS ₹0.04, against a loss of ₹154.07 crore a year earlier
Net profit margin: 0.10%, against -16.38% a year earlier
Finance costs: ₹26.01 crore, up 25.1% YoY

Summary

Consolidated ₹ crore
Particulars	Q2 FY27	Q2 FY26	YoY	Q1 FY27	QoQ
	1,464.24	898.88	+62.9%	1,216.92	+20.3%
Other income	62.71	41.79	+50.1%	42.73	+46.8%
	1.26	-154.07	n/a	-51.09	n/a
Profit before tax	1.26	-154.07	n/a	-51.09	n/a
Finance costs	26.04	20.79	+25.3%	21.58	+20.7%
Depreciation	46.87	42.52	+10.2%	38.96	+20.3%
EPS, basic (₹)	0.03	-4.11	n/a	-1.33	n/a

Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.

Revenue from operations grew faster than other income: up 62.9% year on year, against 50.1% for other income. Both lines rose from the year-earlier quarter, when the group reported a loss of ₹154.07 crore.

Other income of ₹62.71 crore is about 49.8 times the consolidated profit before tax of ₹1.26 crore. The profit is therefore small relative to the other income line. The filing does not explain the swing from loss to profit in the quarter.

Consolidated net profit of ₹1.26 crore is ₹0.24 crore lower than the standalone figure of ₹1.50 crore. The notes say the consolidated results are prepared for the first time from the quarter ended 30 Jun 2026, and that the comparatives before that quarter are standalone figures; the year-earlier comparison is therefore a standalone one.

Standalone ₹ crore
Particulars	Q2 FY27	Q2 FY26	YoY	Q1 FY27	QoQ
	1,526.91	940.67	+62.3%	1,259.65	+21.2%
Revenue from operations	1,464.24	898.88	+62.9%	1,216.92	+20.3%
Other income	62.67	41.79	+50.0%	42.73	+46.7%
	1.50	-154.07	n/a	-50.87	n/a
Profit before tax	1.50	-154.07	n/a	-50.87	n/a
Finance costs	26.01	20.79	+25.1%	21.57	+20.6%
Depreciation	46.80	42.52	+10.1%	38.94	+20.2%
Net profit margin	0.10%	-16.38%	+16.48 pp	-4.04%	+4.14 pp
EPS, basic (₹)	0.04	-4.11	n/a	-1.33	n/a

Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.

Standalone revenue from operations also rose 62.9% year on year, and other income of ₹62.67 crore made up 4.1% of total income of ₹1,526.91 crore. Finance costs of ₹26.01 crore were 1.7% of total income.

Standalone profit before tax was ₹1.50 crore against a loss of ₹154.07 crore a year earlier. Depreciation rose 10.1% year on year to ₹46.80 crore. The half-year loss before tax was ₹49.37 crore.

The statements show an exceptional item of ₹5.04 crore in the year ended 31 Mar 2026 column, but none in the quarter.

The board also approved capacity expansion at two factories. At Hosur, Tamil Nadu, the company plans to add 75,000 units a year, for up to ₹58 crore including tax, with completion expected in December 2026. At Chhatrapati Sambhajinagar, Maharashtra (Factory 3.0, under construction), it plans to add 150,000 units a year, for up to ₹64 crore including tax, with completion expected in Q2 FY28. The company says both will be financed by a combination of debt and internal accruals.

The company says the new Battery Waste Management Rules have significant implications for it as a battery producer. It says it cannot reliably estimate a range of possible outcomes and impacts as at 30 Sep 2026, and that further guidance from the Ministry is awaited.

Inference

The filing reports ₹1,300.00 crore raised through a qualified institutions placement, ₹200 crore through a preferential issue of shares, and ₹250.00 crore received as 25% of a ₹1,000.00 crore warrant issue. The balance of 75% is payable on conversion, within 18 months of allotment. The filing does not say when the warrants will be converted.

The filing does not give the tax expense or its split, and it does not say what the Battery Waste Management Rules will cost the company.

Reference: Original filing (PDF)

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