DataWind Inc. reported earnings results for the fourth quarter and full year ended March 31, 2017. For the quarter, revenues of CAD 8.29 million representing a decrease of 53.3% over the three months ended March 31, 2016.

The company reported revenue results for the fourth quarter and full year ended March 31, 2017. For the year, revenues were CAD 57.8 million, a drop of 3% over the previous fiscal year, due to the impact of demonetization in India. 1,026,272 units were sold during the year ended March 31, 2017 compared to 1,043,514 units sold during the previous year. Gross margin for the year ended March 31, 2017 is 29.8% which is consistent with the year ended March 31, 2016. Adjusted LBITDA was CAD 25.3 million compared to LBITDA of CAD 0.2 million for the year ended March 31, 2016 representing a deterioration of CAD 25.1 million.