Pune: Firodia group company, Bajaj Tempo Ltd., has registered a growth of 34 per cent on sales of Rs.775.27 crore for the nine-month period April to December 2003, while the company''s net profit for the third quarter was up by 41 per cent at Rs.29.81 crores against Rs. 21.02 crores in the corresponding period of the previous year.

Bajaj Tempo recorded a turnover of Rs. 854.35 crores and net profit of Rs 32.17 crores for the year ended March 31, 2003.

The company has been growing at the rate of 35 per cent across all four segments of its operations — three wheelers, multi utility vehicles, light commercial vehicles and tractors in the last few years.

The tractor segment has restored its sales growth in the turbulent tractor market situation. The sales of the company''s Balwan range of tractors grew considerably in Q3 this year as compared to the same period in the last financial year.

The company recently entered into a technological agreement with MAN of Germany to enter into the segment of medium and heavy commercial vehicles. This new range of MCV & HCV will be introduced in the market in the year 2005.

The company has been focusing on external value chain and has undertaken strengthening of sales channels and overall upgradation within the marketing area. Bajaj Tempo is now targetting a sales turnover of over Rs 1000 crore in 2003-04.