Electric mobility firm Wardwizard Innovations & Mobility on Friday reported an over two-fold increase in standalone profit after tax (PAT) to INR 4.27 crore for the March 2024 quarter. Its standalone PAT in the March quarter of FY23 was recorded at INR 1.44 crore, the company said in a statement.
The total revenue during the quarter under review stood at INR 128.2 crore compared to INR 50.76 crore in the fourth quarter of the previous fiscal, it said.
For the full fiscal 2023-24, its PAT jumped 50% to INR 14.15 crore from INR 9.44 crore in the financial year ended March 2023, it added.
At the same time, its revenue grew 32.7% to INR 317.57 crore from INR 239.28 crore in FY23, it said.
Its Chairman and Managing Director Yatin Sanjay Gupte said, “FY24 has been a year of strengthening our position in the market while driving innovations and celebrating new accomplishments”.
“In FY25, we shall be working effectively in enhancing our portfolio, expanding our presence as well as strengthening our R&D capabilities. We are further expected to launch newer models of electric vehicles, poised for even greater innovation and growth,” he added.
