The board, of the BK Birla group firm with diverse intersts, at its meeting here on Monday, approved the unaudited results and proposed a dividend of 20 per cent on equity shares which will absorb Rs 13.64 crore against Rs 12 crore in the previous year. The company's share of the surplus generated from Birla Tyres has gone up to Rs 4.36 crore from Rs 2.96 crore in the previous year. Its operating arrangement for tyres which was extended to March 31, 1998, has been further extended for two years till March 31, 2000.

Lease rentals payable to the company by the other consortium members has been increased from Rs 42 crore to Rs 45 crore. The other members in the consortium are Century Textiles, Jay Shree Tea and Bharat General & Textile Industries.The company's operating profit for 1997-98 was projected at Rs 114.88 crore in its rights offer document in 1995.But it managed to report an operating profit of only Rs 56.50 crore. Similarly, the company's net profit is lower at Rs 18.42 crore against the projection of Rs 27.39 crore.