Ather Energy reported a net profit of Rs 1.26 crore in Q2, reversing a sizable loss from the previous year, driven by a surge in sales and new product launches. Meanwhile, Pronto founder Anjali Sardana has launched Provision Labs in the US to develop AI systems for real-world robotic applications.
- Ather posts Rs 1.26 crore profit in Q2, revenue up 63%
- Pronto founder starts US-based AI firm Provision Labs
- Sahamati delays account aggregator fee model rollout to Dec 1
What happened
Ather Energy announced a net profit of Rs 1.26 crore in the July-September quarter, a significant turnaround from a loss of Rs 154.07 crore in the same period last year. The company’s revenue from operations rose 63% year-on-year to Rs 1,464.24 crore, while EBITDA moved into positive territory at Rs 11.3 crore. This financial performance coincides with the recent launch of Ather’s mass-market electric scooter Konarc starting at Rs 1 lakh and plans to expand manufacturing capacity across its Hosur and Chatrapati Sambhajinagar plants.
In other news, Anjali Sardana, founder of instant househelp platform Pronto, has set up Provision Labs, a US-based company focused on developing AI models for robotics and physical automation in real-world settings. The new venture is headquartered in San Francisco to utilize access to advanced AI talent, following a trend among Indian deep-tech startups establishing US outposts. Provision Labs aims to extend beyond household chores by sourcing training data from diverse industries globally.
Why it matters
Ather’s profitability signals the maturation of India’s electric two-wheeler market, where rising adoption is offsetting cost pressures and supply chain challenges. It highlights the sector’s structural shift toward electric mobility at scale, supported by increasing consumer acceptance and product diversification. This milestone will likely boost investor confidence and accelerate capacity expansions aiming to meet future demand.
The launch of Provision Labs reflects the growing importance of physical AI and robotics as a field ripe for innovation, especially in the US where talent and capital are concentrated. By combining expertise from an Indian startup with Silicon Valley’s ecosystem, this initiative may drive advances in AI-powered automation that could disrupt traditional labor markets as well as consumer services globally.
What to watch next
Ather’s upcoming quarters will be critical to sustaining profitability, particularly as it ramps up production capacity toward an annual target of 11.45 lakh units by FY28. Market movement in its shares, which surged nearly 19% mid-day following results, will reflect investor sentiment on its growth and margin trajectory amidst ongoing commodity price volatility.
Provision Labs' progress in developing physical AI systems and its ability to collaborate with developers across industries will be important to watch. Its success could shape the larger adoption of AI in robotics tasks beyond household services, potentially influencing competitive dynamics in the AI and robotics sectors. Meanwhile, the delayed rollout of Sahamati’s new account aggregator pricing model until December suggests ongoing industry negotiations and adaptation challenges, which could impact fintech product offerings and partnerships.