Wardwizard posts Rs 1.73 crore in profit in Q1 FY2024
The company reported a standalone revenue of Rs 37.8 crore, and profit of Rs 1.73 crore.
Wardwizard Innovations & Mobility, an electric vehicle manufacturer under the brand 'Joy e-bike', announced its financial results for the first quarter (April- June 2023) of FY24.
The company reported a standalone revenue of Rs 37.8 crore, and profit of Rs 1.73 crore. The company which recently opened 12 distributor showrooms in 11 cities pan India, reported an EBITDA of Rs 4.7 crore.
During the same period (April - June 2023), the company sold 3522 units of high and low-speed electric two-wheelers and electric three-wheelers.
Yatin Gupte, Chairman and Managing Director, Wardwizard Innovations & Mobility Said, "The EV Industry has witnessed a surge in recent times, owing to its awareness and adaptability. To meet the rising demand for Electric Vehicles, we restructured our Distributor Model, to better reach and serve our customers nationwide, expand our network and explore new markets. As a commitment to innovation and a greener future, we have also forayed into the three-wheeler segment and have remained steadfast in catering to the rising demand for EVs."
RELATED ARTICLES
JSW Group's 50 GWh battery manufacturing capacity to come up by 2028 to 2030
The company is in talks with key battery makers for a technology tie-up to set up the cell manufacturing facility.
Citroën and Jeep unveil October festive offers
Throughout October 2024, Citroën and Jeep customers can enjoy exclusive discounts on vehicle care services, accessories,...
Ministry of Heavy Industries announces 10 gigawatt RFP for stationary energy storage solutions
At the IESA summit, officials the need for increased lithium-ion battery manufacturing capacity in India.