Sales for the third quarter of the current fiscal was Rs 538.21 crore (Rs 529.17 crore) but the fall in the operating margin from 14.8 per cent last period to 12.91 per cent this quarter negated the marginal increase in the turnover.

Interest costs were lower at Rs 18.77 crore (Rs 21.08 crore) while depreciation was higher at Rs 22.63 crore (Rs 20.38 crore). A tax provision of Rs 9 crore (Rs 11 crore) has been made.

The company has declared a final dividend of 90 per cent to take the total dividend for the year 1998 to 150 per cent. The company had twice during the year declared interim dividends of 30 per cent.