Wardwizard Innovations & Mobility Q4 profit jumps threefold

Wardwizard Innovations & Mobility Limited, a leading manufacturer of electric vehicles under the brands 'Joy e-bike' and 'Joy e-rik', reported a consolidated net profit of Rs 3.97 crore in Q4FY24, a threefold increase from Rs 0.93 crore in Q4FY23.

The company's revenues during Q4FY24 stood at Rs 128.26 crore, up from Rs 50.76 crore in Q4FY23.

Yatin Sanjay Gupte, Chairman & Managing Director, Wardwizard Innovations & Mobility Limited, said, “FY24 has been a year of strengthening our position in the market while driving innovations and celebrating new accomplishments. In the last financial year, we achieved the sales milestone of 1 lakh electric two-wheelers (since inception) which shows the trust of the customers on the brand. We are dedicated to lead the way towards a sustainable future with new innovations and developments. Our recent unveiling of a ground-breaking hydrogen-powered e-scooter prototype followed by our strategic partnership with global players for technology advancements."

"In FY25, we shall be working effectively in enhancing our portfolio, expanding our presence as well as strengthen our R&D capabilities. We are further expected to launch newer models of electric vehicles, poised for even greater innovation and growth. Our efforts will continue to pave the way for next-generation technologies, ensuring our position at the forefront of the industry,” he further added.