Wardwizard Innovations' PAT Zooms 100% YoY to Rs. 4.27 Crore in Q4 FY23

Electric firm Wardwizard Innovations & Mobility reported a significant increase in profit after tax (PAT) for Q4 FY24, rising to Rs 4.27 crore, more than double its PAT of Rs 1.44 crore in Q4 FY23. Revenue surged to Rs 128.2 crore from Rs 50.76 crore in Q4 FY23. For FY24, PAT increased by 50% to Rs 14.15 crore, while revenue grew by 32.7% to Rs 317.57 crore. The company plans to expand its portfolio and launch new electric vehicles in FY25, driving innovation and growth.

Electric mobility firm Wardwizard Innovations & Mobility on Friday reported an over two-fold increase in standalone profit after tax (PAT) to Rs 4.27 crore for the March 2024 quarter.

Its standalone PAT in the March quarter of FY23 was recorded at Rs 1.44 crore, the company said in a statement.

The total revenue during the quarter under review stood at Rs 128.2 crore compared to Rs 50.76 crore in the fourth quarter of the previous fiscal, it said.

For the full fiscal 2023-24, its PAT jumped 50 per cent to Rs 14.15 crore from Rs 9.44 crore in the financial year ended March 2023, it added.

At the same time, its revenue grew 32.7 per cent to Rs 317.57 crore from Rs 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.

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