Lakshmi Auto, however, has faltered with a 6 per cent drop in net. This was despite the addition to it revenue stream from its October 1998 takeover of the rubber and plastics division. During the last quarter, Lakshmi Auto's net sales had almost doubled to Rs 17.70 crore from the Rs 8.86 crore reported in quarter ended March 1998.

During the last quarter ended March 31, the Bangalore-based MICO earned a Rs 14.52 crore net profit from a net sales of Rs 330.86 crore. While MICO's net profit jumped 204 per cent during the period under review (Rs 4.77 crore during quarter ended March 31, 1998), it had shown a 15.43 per cent rise in net sales over the Rs286.61 crore reported during the corresponding quarter of calendar 1998.

The tremendous spurt in MICO's bottomline came despite a Rs 10.80 crore additional tax outgo at Rs 12 crore and lower other income of Rs 4.51 crore against Rs 6.63 crore during the quarter ended March 31, 1998. However, the company's interest outgo during the last quarter at Rs 23 lakh was lower by more than Rs 2 crore (Rs 2.44 crore during quarter to March 1998).

For Automotive Axles, the rise in net to Rs 18.28 lakh during quarter ended March 1999 compared to Rs 6 lakh during the corresponding quarter of fiscal 1998 came from a decent 10 per cent rise in net sales to Rs 2.49 crore from Rs 2.27 crore. This rise in net was accompanied by more than 50 per cent drop, both in interest outgo and tax provisions. During the quarter to March 1999, the company had a interest outgo to the tune of Rs 2.14 lakh against Rs 5.99 lakh, while tax provisions were limited to Rs 2.14 lakh compared to Rs 4.60 lakh during the quarter ended March1998.

Clutch Auto, during the fourth quarter ended March 1999, earned a 36 per cent rise in PAT to Rs 63.73 lakh against Rs 46.98 lakh. During the period under review, the company's total sales had gone up by 17.5 per cent to Rs 19.43 crore from Rs 16.58 crore in quarter ended March 1998.