First quarter advance tax numbers show India Inc. not in optimistic mood

15 Jun 2011 Evaluate

With several leading corporates paying more advance tax in Q4 FY-11, indicating their healthy financial performances, this time the sentiments don’t seem much bullish with a mixed set of numbers coming for the first quarter of the FY-12. The major disappointment came from the Tata group companies, majority of whom have paid lower advance tax for the first quarter compared to same quarter of the last year. On the same time Larson & Toubro paying almost 35 percent higher advance tax came as a surprise, the first quarter is not usually good for the construction major. Also, the IT sector performance is likely to be solid this time as the bellwethers have reportedly paid much higher tax for the quarter, with TCS showing a jump of almost a 100 percent in its first quarter payment. Pharma companies too have shown bullish prospect for the first quarter, while the largest conglomerate Reliance industries has paid about 40 percent higher tax for the quarter.

Some of the major companies and their advance tax numbers compared with corresponding previous quarter (as per media sources):

Company	Q1FY12 (Rs Cr.)	Q1FY11 (Rs Cr.)	% Change
Bank of Baroda	255	225	13.33
Bank of India	165	168	-1.79
HDFC Bank	340	315	7.94
HDFC	255	215	18.60
Yes Bank	60	50	20.00
Central Bank of India	138	150	-8.00
LIC Housing Finance	45	38	18.42
M&M Financials	33	26	26.92
Century Textile	0	17	--
L&T	175	130	34.62
Tata Steel	250	300	-16.67
Tata Motors	60	65	-7.69
Tata Power	30	35	-14.29
Hindalco	80	55	45.45
BPCL	75	125	-40.00
TCS	250	128	95.31
Infosys	300	225	33.33
Reliance Inds.	900	650	38.46
Bajaj Auto	125	110	13.64
Grasim	40	40	0.00
Crompton Greaves	35	38	-7.89
Siemens	62.5	60	4.17
Peninsula Land	6.5	11	-40.91
Voltas	23	18	27.78
Lupin	18	15	20.00
Aventis Pharma	12	10	20.00
GSK Pharma	43	42	2.38
Blue Dart	4.25	2	112.50
CRISIL	4.9	3	63.33
ONGC	1060	1090	-2.75
SBI	1100	856	28.50

Nuclear power Corporation	60	--	--
Dena Bank	50	--	--

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First quarter advance tax numbers show India Inc. not in optimistic mood

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