Q3 advance tax shows modest rise

17 Dec 2012 Evaluate

Advance tax payments for the third quarter of FY13 has been more or less flat, while there was modest increase in overall advance tax payments, lots of major names like RIL, L&T and SBI paid lower amount compared to same quarter last year, indicating that the slowdown in economic activity is affecting profitability. Barring few, most of the banks paid higher Q3 advance tax, the private and global banks surpassed their PSU counterparts and Deutsche Bank even paid double of what it paid in same quarter last year. The Cement companies gave a mixed view, while the pharma sector showed their continued bullishness and paid higher advance taxes for the third quarter. There was some disappointment too, as one of the top companies, Reliance Industries paid around 10% lower advance tax, while the construction major L&T’s tax outgo too were lower by around 5%. The direct tax collection target for FY13 is Rs 5.7 lakh crore, an increase of about 25 per cent over the actual collections in the last financial year.

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

Company	Q3FY13 (Rs Cr.)	Q3FY12 (Rs Cr.)	% Change
Uco Bank	98
SBI	1701	1730	-1.68
Bank of India	120	125	-4.00
BoB	550	525	4.76
Central Bank	120	104	15.38
Union Bank of India	341	221	54.30
HDFC	560	475	17.89
LIC Housing Finance	113	91	24.18
Cipla	125	95	31.58
Lupin	133	43	209.30
Glaxo	90	84	7.14
Bayer	220	15	1366.67
HUL	450	290	55.17
Colgate	60	39	53.85
M&M	295	207	42.51
Bajaj Auto	470	450	4.44
Tata Motors	0	60
UltraTech Cements	250	320	-21.88
ACC	112	95	17.89
Ambuja Cements	150	113	32.74
RIL	1000	1100	-9.09
L&T	333	350	-4.86
TCS	530	620	-14.52
Tech Mahindra	60	60	00
ICICI Bank	675	500	35.00
HDFC Bank	1000	900	11.11
YES Bank	210	160	31.25
Deutsche Bank	300	150	100.00
Standard Chartered	490	470	4.26
HSBC	428	423	1.18
Citi	500	400	25.00
Coal India	75
BPCL	00	201

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