The company has reported sales of over 10,000 units and a net profit of Rs. 2.86 crore in the same period.
see photosWardwizard Innovation & Mobility registers 656 percent growth in sales in Q3 FY22
Wardwizard Innovation and Mobility Limited, a manufacturer of electric two-wheelers under the brand name Joy E-Bike, has reported financial results for the third quarter of the current financial year. The company has announced the highest ever numbers in the quarter with revenues of over ₹58.3 crore in the third quarter of FY 2021-22, as against ₹11.5 crore in the third quarter of FY21, up 392 per cent. An increase of more than The demand for low-speed electric two-wheelers has increased, and the company achieved sales of 10,005 units in the quarter, registering a growth of over 656 per cent as compared to the third quarter of FY 2020-21, the company said in a statement. is of. Sales included 1,324 units.
Read also: Wardwizard Innovation and Mobility to invest ₹500 cr in Gujarat
Wardwizard Innovation & Mobility has a range of low speed electric scooters
Commenting on the Q3 performance of FY22, Sneha Shouche, Chief Financial Officer, Wardwizard Innovation & Mobility Limited said, “Encouraged by the green mobility revolution in the country, EVs are becoming the mobility solution of choice for many new riders As people are showing an inclination towards meeting the mobility needs of electric two wheelers, we are witnessing an increase in demand across all our touchpoints. With the increasing demand for electric vehicles, especially two wheelers, the supply The chain is under immense pressure. To meet this demand, we are investing further in setting up the first of its kind EV ancillary in India which will be located in Vadodara, Gujarat. This investment will help drive growth in the segment. This will help and promote the ‘Make-in-India’ vision while promoting local vendors. This electric mobility revolution.”
Read also: WardWizard reports sales of 3,860 two-wheelers in December 2021
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In the quarter, the company took significant initiatives by announcing an investment of ₹ 500 crore to facilitate the growth of the EV industry by creating an EV subsidiary cluster. The company reported the highest ever sales of units in December 2021, and also inaugurated its new global headquarters in Vadodara, Gujarat.
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