Ather Energy Shares Surge 16% After Q1 Earnings Report

Ather Energy shares rose 16% to a record high after the company reported a net loss of ₹51 crore for the June quarter, down from ₹178 crore last year.

Revenue from operations grew 89% year-on-year to ₹1,217 crore, with the company turning adjusted EBITDA positive during the quarter.

Brokerage CLSA maintained an 'Outperform' rating with a ₹1,600 target, noting that monthly bookings of 50,000 units currently exceed the company's 35,000-unit production capacity.