Wardwizard Innovations & Mobility rose 5.98% to Rs 88.60 after the company said its total electric two-wheeler sales soared 548% to 3,860 units in December 2021 as against 595 units in December 2020.WardWizard Innovations & Mobility manufactures electric two-wheelers brand, ‘Joy e-bike’.
The company’s sales in the third quarter (Oct-Dec) crossed 10,000 units for the first time.
The firm sold 17,376 electric scooters and motorcycles in the first three quarters of this financial year (April-December 2021), logging a growth of 570% compared with the same period last financial year (April-December 2020).
Further, the company said it is all set to launch its first ever ‘Made-in-India’ high-speed electric scooters in January 2022.
Sheetal Bhalerao, chief operations officer, WardWizard Innovations and Mobility, said: As there is a high demand for high-speed scooter models, the company is launching its first-ever ‘Made-in-India’ high-speed scooter models in the upcoming Vibrant Gujarat Global Summit. To further meet the growing market demand, the company will be continuing to strengthen its presence across the country and also making investments to facilitate the growth of the electric vehicle industry.”
Net profit of Wardwizard Innovations & Mobility rose 478.57% to Rs 1.62 crore on 386.92% rise in net sales to Rs 33.50 crore in Q2 September 2021 over Q2 September 2020.
WardWizard Innovations & Mobility is a leading auto manufacturing company in the Electric Vehicle (EV) segment under the brand name Joy E-Bike.
Source: Business Standard