1. The above results were reviewed by the Audit Committee at its meeting held on May 08, 2009 and approved at the meeting of the Board of Directors held on that date.

i Other operating income includes:
(a) income on account of VAT set-off for prior years: Nil for the quarter ended March 31, 2009 (2008: Nil) and Rs 29.3 million for the year ended March 31, 2009 (2008: Rs 59.6 million).

(b) write back of provision for provident fund on leave encashment: Nil for the quarter and year ended March 31, 2009 (2008: Rs 12.8 million)

3. Other income includes:

(a)interest from tax authorities: Rs 9.6 million for the quarter ended March 31, 2009 (2008: Nil) and Rs 14.2 million for the year ended March 31, 2009 (2008: Rs 8.0 million). 

(b)profit on sale of residential premises: Nil for the quarter ended March 31, 2009 (2008: Nil) and Nil for the year ended March 31, 2009 (2008: Rs 43 million).

4. Provision for taxation - current tax includes provision for earlier years (net) :Rs 4.9 million for the quarter ended March 31, 2009 (2008: Rs 8.1 million) and Rs 46.4 million for the year ended March 31, 2009 (2008: Rs 23.9 million)

5. The Board has recommended a dividend of 200% (10 per equity share of Rs 5 each) for the year ended March 31, 2009 (2008: 200%, Rs 10 per equity share of Rs 5 each).

6. Figures for the prior periods have been regrouped where necessary.

R Shahani
Vice Chairman & Managing Director