Electric vehicle maker Wardwizard Innovations & Mobility has reported an over four-fold increase in its Profit After Tax (PAT) at Rs 3.28 crore for the quarter ended March, according to a company statement.

The Vadodara-based firm had posted a PAT of Rs 69.26 lakh in Q4FY21.

The company said its income rose by 347 per cent to Rs 81.49 crore during the quarter under review as compared to Rs 17.09 crore in the year-ago period.

For the full fiscal 2021-22, PAT jumped 353 per cent to Rs 8.47 crore as against Rs 1.87 crore in FY21.

The company sold a total of 30,761 vehicles in the last financial year, it added.

Wardwizard Innovations & Mobility has over 550 dealership network pan-India and is looking to cross 2,000 dealerships in another 2-3 years, it said.

The company has recently launched high speed scooters, Wolf+ and Gen Next Nanu+.

It also said it is planning to introduce a three-wheeler product this year considering the market demand and requirement.

“We are excited with the performance as the company has achieved a milestone of Rs 1,851 million, which is an outcome of our dedication and intent of doing a serious business for the growing sector.

“We are continuously innovating our products and services keeping customer’s interest in the centre. The company will continue to invest in R&D, diversifying its product line, and increase its market presence in FY23,” said Yatin Gupte, Chairman and Managing Director, Wardwizard Innovations & Mobility Ltd.

“We are also planning to introduce more products this year, which will help the industry and the company both to grow together and the users will be benefited at large,” he added.  PTI IAS AJ AJ

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