Toyota Kirloskar posted Rs 13,808 crore of revenue in fiscal 2016, an 8% drop from the year before, hurt by the ban. Profit before tax was Rs 822 crore, higher compared with Rs 805 crore the previous year.Shekar Vishwanathan, vice chairman for Toyota Kirloskar, declined to comment on the specifics on the financials. "At Toyota, the members are sensitised to current challenges based on which we have been spending judiciously on what is required and how much is required. In the past year, Toyota Kirloskar said it reduced cost on local parts by 2.2% and inhouse cost by 5.1%.What is impressive about the performance is that despite the volumes remaining around 1.5 lakh units per annum, it made significant improvement in profits. Vishwanathan said, while the market share has been under pressure, the company has not shifted focus beyond profitability.

Source: Economic Times November 17, 2016 19:13 UTC