Wardwizard Innovations reports 47% profit growth in Q1FY25

Wardwizard Innovations & Mobility Limited, the manufacturer of electric vehicles under the brands 'Joy e-bike' and 'Joy e-rik', reported a net profit of Rs 2.30 crore during Q1FY25 as against Rs 1.56 crore in Q1FY24, witnessing a jump of 47.19%. The revenues from operations, on the other hand, stood at Rs 51.44 crore during Q1FY25 compared with Rs 37.88 crore, translating into a jump of 35.79% from Q1FY24.

Yatin Gupte, Chairman & Managing Director, WardWizard Innovations and Mobility Limited, said, "This quarter was significant for us as we successfully secured a landmark order from Beulah International Development Corporation in the Philippines, which is reflective of the growing global demand for and trust in our indigenous technologies and products."

Wardwizard Innovations & Mobility Limited had secured a substantial order worth USD 1.29 billion from Beulah International Development Corporation. Beulah International, a prominent full-service business integration company and EPC firm in the Philippines, is backed by RP Connect. This order will involve the delivery of electric two-wheelers and three-wheelers from Wardwizard's existing product portfolio. Additionally, the company will develop and supply four-wheelers for commercial vehicle applications in the Philippine market.