Johnson Controls-Hitachi Air Condition. India standalone net profit declines 10.77% in the June 2017 quarter
Johnson Controls-Hitachi Air Condition. India reports standalone net loss of Rs 0.18 crore in the September 2017 quarter
The company is also aiming to double its India sales to around Rs 4,000 crore in three years.
Currently, India is its fourth largest market, behind China, North America and Japan.
"India is the fourth biggest current market for us...it's growing very fast here and our ambition is to bring that to number three," the firm's VP Global Sales, Marketing and Channel Development Howard Lang told PTI.
Asked by when he expects India to be its third biggest market, he said, "At the growth rate which has been presented, we would see India probably number three by 2021."
The company, a JV between US-based Johnson Controls and Hitachi, Japan, looks at India as an important market, where it is the third most selling AC brand.
Johnson Controls-Hitachi Air Conditioning India, which reported a turnover of Rs 1,971.58 crore in 2016-17, is expecting to double the figure to around Rs 4,000 crore by 2021-22.
The company aims to sell 6.5-7 lakh units this season, he added.
It is also working to enhance its sales network and aims to be available at around 11,000 outlets.
"We are available at 8,500 outlets today and we aim to go to around 11,000 by the end of this year," Singh said.
Presently, tier-I cities contribute around 65 per cent of its sales, while the rest 35 per cent is from tier II and III markets.
"But going ahead, in next two years, it would be 50:50," he added.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)