* Hewlett-Packard Co. said its profit rose...

* Hewlett-Packard Co. said its profit rose 49% in its most recent quarter, due in part to acceptance of its newer products and efforts to control expenses.

The computer and measurement-equipment maker earned $306 million, or $1.21 a share, for the three months ended Jan. 31, compared to $205 million, or 83 cents a share, for the first quarter of its fiscal 1991.

Revenue rose 13% to $3.9 billion, from $3.4 billion.

Orders also rose 13% to $4.2 billion, compared to $3.7 billion in the first quarter of its last fiscal year. Domestic orders were $1.8 billion, a gain of 15%, while orders from outside the United States grew 12% to $2.4 billion.

The company said orders for its LaserJet and DeskJet printers rose sharply during the quarter, and its scanners and disk-mechanism products also did well. HP said its computer systems, including the HP 9000 Series 700 workstations, also saw strong growth in orders.

Earnings, D5