Toyota Kirloskar to make profits

Toyota Kirloskar Motors said it will make net profit in India this year after wiping out the cumulative losses.

Toyota Kirloskar Motors said on Thursday that it will make net profit in India this year after wiping out the cumulative losses.

HT Image

The company, which has invested Rs 2,400 crore in the Indian market hopes to sell a total of 56,000 units in 2006 as against over 40,000 units sold in 2005, aiming a growth of 40 per cent, TKM Deputy Managing Director KK Swami told reporters.

The company, which also manufactures transmissions for Toyota, hopes to sell 1,60,000 units this year and bring in revenue of Rs 400 crore.

While Toyota owns 89 per cent in the joint venture, 11 per cent belongs to the Kirloskars.