BMW India turns the corner: Logs profit
Business Standard|November 09, 2022
After incurring losses for two years on the trot, German luxury automotive company Bayerische Motoren Werke AG (abbreviated as BMW) has posted net profit in India in 2021-22 (FY22), primarily due to high demand of its top-end vehicles, cost optimisation, and price hikes, Business Standard has learnt.
DEEPAK PATEL
BMW India turns the corner: Logs profit

BMW India said in its FY22 financial statement that the company is focusing on growth and achieving profitability through induction of new products in the market, strengthening its dealership network, and improving customer satisfaction while reducing costs.

The company posted its highest-ever revenue in India in FY22 at ₹4,365.8 crore. It posted a net profit of ₹60.06 crore in FY22 after posting losses of ₹12.55 crore and ₹49.34 crore in 2020-21 (FY21) and 2019-20 (FY20), respectively.

BMW India did not respond to queries until the time of going to press.

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