Riding on a marginal rise in sales, the board of directors of the company has recommended a dividend of 24 per cent. The net profit during the last fiscal was Rs 3.51 crore (Rs 2.56 crore).

Registering a 5.13 per cent growth in its sales, Falcon Tyres has posted a total income of Rs 103.55 crore (Rs 98.64 crore) during the fiscal 1998-99. Total expenditure and interest paid by the company stand at Rs 93.64 crore (Rs 88.16 crore) and Rs 3.09 crore (Rs 4.14 crore) respectively.

Depreciation during the period was Rs 1.55 crore (Rs 1.38 crore). Gross profit of the company for the fiscal 1998-99 was Rs 9.90 crore (Rs 10.48 crore). Falcon Tyres' provision for taxation was Rs 1.75 crore (Rs 2.38 crore).

According to the company, it hadallotted 15,63,125 equity shares of Rs 10 each a premium of Rs 6 each on preferntial basis to the promotor company, its associates and subsidiaries. The company's paid-up equity share capital has gone up to Rs 4.68 crore from the previous fiscal's Rs 3.12 crore.

Falcon Tyres has written-off Rs 4.92 crore as bad debts during the last fiscal.

During the quarter ended March 31, 1999 the company has reported a sales of Rs 25.48 crore (Rs 33.18 crore). Total expenditure during the period was Rs 24.34 crore (Rs 30.89 crore). Falcon Tyres has reported a net profit of Rs 42.28 lakh (Rs 96.22 lakh) during the quarter.