Toyota Kirloskar to report profit this fiscal

Toyota Kirloskar Motors (TKM) is expected to report net profit this year after wiping out the cumulative losses.

The company, which has invested Rs 2,400 crore, hopes to sell a total of 56,000 units in 2006 as against over 40,000 units sold in 2005, K K Swami, deputy managing director of Toyota Kirloskar Motors, said today.

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

While Toyota owns 89% in the joint venture, 11% is owned by the Kirloskars.