Sample this: While Hindustan Lever has recorded a healthy net profit of above Rs 223 crore in the third quarter (results not comparable with that of the previous year), trucks major Telco had to remain content with paring its losses in the second quarter. And while the Pune-based Bajaj Auto logged a 10 per cent growth in net profit to a shade over Rs 226 crore, the mammoth Bank of India recorded a precipitous drop in its bottomline to Rs 101 crore from Rs 221 crore a year ago.

Hindustan Lever Q3 net spurts: Hindustan Lever Ltd, in its first consolidated results after the merger of Pond's India with itself, announced a Rs 576.33-crore net profit for the nine-month period ended September 30, 1998. The company posted a netprofit of Rs 412.18 crore in the corresponding period last year. The fast-moving consumer good giant said that the two periods are not strictly comparable as the previous year did not include the results of the erstwhile Pond's India. The annualised earnings per share has grown by 26.9 per cent to Rs 35 per share during the January-September period and by 30 per cent in the third quarter over the corresponding periods last year.

Commenting on the company's performance, HLL chairman KB Dadiseth said, "We will now get on with the task of achieving the synergies that are expected to come from this amalgamation."The merger is effective January 1, 1998. Consequent to the amalgamation, the fast moving consumer goods giant's turnover has risen to Rs 7,138.21 crore in the nine-month period as against Rs 5,805.53 crore in the previous corresponding period.

Bajaj Auto H1 net up: Bajaj Auto has reported a net profit of Rs 226.20 crore for the first half of the current year, a 10 per cent jump from Rs 205.38crore reported in the corresponding period last year. Sales, including other income, were up by 12 per cent to Rs 1,820.94 crore from Rs 1,630.79 crore. Of this, exports accounted for Rs 82.71 crore, up from Rs 66.14 crore reported in the previous first half.

Chairman and managing director Rahul Bajaj told The Financial Express that sales for the first half kept in line with the fact that the two-wheeler segment is the only one that is growing in the automobile industry. "However, the second half of the current financial and especially 1999-2000 will be the period when the benefits from the new models would really be realised." The new models are Caliber, Legend and Spirit.

Telco curtails H1 losses: Telco has reported a net loss of Rs 54.47 crore for the first half of the current fiscal, a steep drop from the Rs 213.93-crore profit posted in the corresponding period last year.

The net loss for the first quarter was higher at Rs 35.63 crore. A release on Tuesday states, "The improvement insales in the second quarter, tighter control on operating cost and better working-capital management enabled the company to restrict the net loss to Rs 18.84 crore." Reacting to the disastrous results, marketmen hammered the stock on the kerb. While the stock closed officially at Rs 114.80, after touching an intra-day high of Rs 117.70, it dipped by over 2 per cent to trade at Rs 110/111.50 at 7 pm. While the market expected the company to break even its past performance, the announcement of a further loss of over Rs 18 crore for the second quarter led to a disappointed market environment.

Market sources say this could lead to a further erosion in the stock value, which had bounced back above the Rs 110 levels on account of the buyback announcement.

Total income from operations also fell sharply by 29 per cent to Rs 2,746.01 crore, from Rs 3,881.56 crore. Total expenditure for the period was Rs 2,515 crore, against Rs 3,375.9 crore in the corresponding period last year.

Bank of India net dives54%: Bank of India on Tuesday reported one of its worst performances in recent times. The bank said its net profit plunged 54.29 per cent to Rs 101 crore during the first half of 1998-99 compared with Rs 221 crore in the corresponding period of the previous year. Its operating profit before provisions was down 24.31 per cent to Rs 277 crore against Rs 366 crore in the first half of the previous year.