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

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):