The company had sold 953 units in February 2023. Additionally, the company sold 11 electric three-wheelers in February 2024.

Yatin Gupte, chairman & managing director, Wardwizard Innovations & Mobility, said: “In February 2024, Wardwizard Innovations & Mobility Limited experienced an exciting beginning with a remarkable 112% increase in sales compared to the previous year. This achievement reflects our commitment to excellence and our ambition to transform the electric vehicle sector.

Electric vehicles are evolving from optional to indispensable, highlighting the urgency for sustainable mobility solutions. Through our 'Joy e-bike' brand, we persist in innovating and empowering communities towards a greener, more sustainable future in transportation.

We are strategically expanding our operations to serve both domestic and international markets, further solidifying our position as a key player in the electric vehicle industry."

Wardwizard Innovations & Mobility is one of the leading manufacturers of electric two-wheelers under the brand ‘Joy e-bike’ and three-wheelers under the brand ‘Joy e-rik’ in India. With more than 10 models in its portfolio in both high and low-speed categories, the company has established a strong presence in more than 400+ cities across India.

The company's consolidated net profit rose 59.23% to Rs 5.35 crore on a 52.21% increase in revenue to Rs 106.29 crore in Q3 FY24 as compared with Q3 FY23.