Bajaj Tempo turnover up 31%

Our Corporate Bureau
30 June 2003

As per the company''s audited financial results, Bajaj Tempo has registered a gross turnover of Rs 854 crore on sales of 38,125 vehicles across all its product categories. The company''s impressive growth has been achieved on the back of significant increase in sales for all its product categories.

The company''s light commercial vehicle sales (both small-load carriers and vans) has grown by 31 per cent (3,099 numbers as against 2,371 numbers previous year) against an industry growth of about 20 per cent.

Multi-utility vehicles (passengers and goods carriers) too recorded a sales growth of 29 per cent (6,537 numbers against 5,048 numbers previous year), whereas the industry grew by only 17 per cent. Additionally, three-wheelers (passengers and goods carriers) have also witnessed a significant increase of 26 per cent (24,931 numbers against 19,739 numbers previous year) vis-à-vis the industry growth of about 13 per cent.

Thus, in all the three segments, growth of Tempo is higher than the industry growth.

Tempo''s Balwan range of hi-tech tractors continues to make its impact on the tractor industry. Tempo''s tractor division has registered a remarkable growth of 73 per cent over the last year (2001-02: 2038 numbers vis-à-vis 2002-03: 3,525 numbers), thereby bucking the trend of the tractor industry''s decline of 25 per cent.

The board of Bajaj Tempo also recommended a payment of dividend of Rs 5 per share of Rs 10 each.