Ather Energy jumped 18% to Rs 1,623 on 26 Oct after turning profitable with Rs 1.26 crore in the September quarter.

The Bengaluru-based scooter maker said its board approved the results on 26 October. The same quarter last year resulted in a loss of Rs 154.07 crore.

Sales did the heavy lifting. Revenue rose 62.9% to Rs 1,464.24 crore, up from Rs 898.88 crore.

Operating profit, the money left after running costs, came in at Rs 11.42 crore. In the same quarter last year, the company lost Rs 132 crore at that level.

In the June quarter, it lost Rs 51.09 crore. The board also approved about Rs 122 crore of spending to build more scooters.

The Hosur plant in Tamil Nadu will go from 4.2 lakh scooters a year to 4.95 lakh, and the planned plant at Chhatrapati Sambhajinagar in Maharashtra from 5 lakh to 6.5 lakh, the company said in a statement.

Money came in as well. A board meeting on 15 July had fundraising on its agenda, and the company raised Rs 1,300 crore by selling shares to large institutions at Rs 1,202 each.

It also sold 16.26 lakh shares to chosen investors at Rs 1,230 each, which brought in another Rs 200 crore. Both raises were completed during the quarter.

The results and the spending plan were filed with the exchange on 26 October. Ather did not say when the added capacity will be ready.

At the close on NSE, Ather Energy ended at Rs 1,575, up 14.13% from the previous close of Rs 1,380.

The stock is up 113.27% so far this year and 122.99% over one year, and its 52-week range runs from Rs 582.05 to Rs 1,744.

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