Third quarter advance tax number shows mixed trend for India Inc.

15 Dec 2011 Evaluate

The third quarter advance tax payments have put a mixed picture of the India Inc. Though the tax official have claimed that there was a rise of about 10% in advance tax payments by the top 100 companies but the numbers showed disappointments from many corners. As the banking major State Bank of India paid over 6 percent lower advance tax for the Q3FY12 compared to Q3FY11 and the other major company Reliance Industries paid almost 16 percent lower advance tax. However, Cement companies came up with comparatively higher tax payments this time. Pharma and the FMCG companies were the ones who majorly came up with higher tax payments for the third quarter. Though, disappointment continued from the manufacturing firms and the capital goods companies. Auto companies showed a mixed trend, while the two wheeler manufacturer paid higher tax, car and heavy vehicle majors paid lesser advance tax.

But as on whole the numbers were satisfactory as if there wasn’t a surge there wasn’t much downside too, despite the economic slowdown, however the numbers have showed that slowly the domestic and global economic conditions have started impacting the bottom-line of the companies. Broking firms, whether domestic or global paid less tax while majority of the banking companies came up with higher advance tax payments.

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

Company	Q3FY12 (Rs Cr.)	Q3FY11 (Rs Cr.)	% Change
PFC	210	242	-13.22
Oil India	600	450	33.33
NTPC	836	596	40.27
HPCL	0	107	--
BPCL	0	0	0
IOC	0	0	0
REC	290	290	00
GAIL	400	370	8.11
ONGC	2924	2742	6.64
LIC	1200	1050	14.29
GIC	135	130	3.85
HDFC	475	400	18.75
Axis Bank	662	540	22.59
BoB	550	420	30.95
Dena Bank	65	80	-18.75
Bank of India	100	150	-33.33
Indusind Bank	120	110	9.09
HDFC Bank	900	750	20
Kotak Mahindra Bank	150	80	87.50
SBI	1730	1850	-6.49
Central Bank	100	180	-44.44
Union Bank	220	350	-37.14
LIC Housing Finance	90	80	12.50
M&M Financials	103	89	15.73
NABARD	220	160	37.50
Yes Bank	160	120	33.33
Kotak Securities	10	30	-66.67
Tata Chemicals	70	55	27.27
Tata Power	80	60	33.33
Tata Steel	1100	1000	10
L&T	350	340	2.94
RIL	1002	1190	-15.80
Hindalco	200	200	00
Crompton Greaves	62	78.5	-21.02
Century Textile	3	24	-87.50
Alok Inds.	32	35	-8.57
NMDC	1050	950	10.53
Kansai Nerolac Paints	26.50	24	10.42
Asian Paints	130	100	30
Hero MotoCorp	180	120	50
Bajaj Auto	450	370	21.62
Tata Motors	80	220	-63.64
M&M	220	230	-4.35
Zee Entertainment	40	40	00
Grasim Inds.	100	135	-25.93
Ambuja Cements	115	60	91.67
ACC	95	40	137.50
Ultra Tech	210	230	-8.70
ITC	910	790	15.19
Colgate	40	34	17.65
Godrej Cons. Products	40	15	166.67
HUL	300	220	36.36
CIPLA	90	70	28.57
Wyeth Pharma	17	16	6.25
Novartis	20	18	11.11
Deutsche Bank	150	170	-11.76
Accenture Svcs	100	20	400
CITI	400	350	14.29
Stan Chart	470	376	25
HSBC	420	200	110
Citi Group Global Mkt	50	120	-58.33
Macquarie	43	27.25	57..80
CLSA	29.2	65.40	-55.35
JP Morgan	25.40	56.90	-55.36
NSE	39	39	00
Nuclear Power Corp	165	95	73.68
Siemens	70	120	-41.37
BCCL	100	165	-39.39
Hindustan Zinc	400	325	23.08
SKF	69.50	61.20	13.56
Castrol	70	80	-12.50
Sterlite Inds	90	--	--
BALCO	20	--	--

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