After reporting a sharp improvement in its June-quarter performance, including a net loss narrowing to Rs 51 crore from Rs 178 crore and ebitda turning positive despite commodity headwinds, Ather Energy has won fresh support from foreign brokerages, with target prices going as high as Rs 1,714. Shares of the company surged as high as 18% to Rs 1,500 on the BSE earlier in the day.
Ather’s revenue from operations jumped 88.8% year on year to Rs 1,217 crore. Consolidated EBITDA turned positive at Rs 9 crore during the quarter, against an ebitda loss of Rs 106 crore a year earlier. Margins improved 319 basis points sequentially to -2.7% despite commodity headwinds.
