Quarter 2 advance tax payout of top 100 companies sees muted growth

Sep 16 2013, 17:39 IST
Comments 0
Summary'For the top-100 companies, the advance tax payments have increased by 7-8 per cent, the official said.

HDFC Bank paying Rs 1,375 crore versus the Rs 1,100 crore during the same period of last year. the official said.

Mortgage lender HDFC paid Rs 650 crore for the September quarter, up from the year ago's Rs 560 crore.

With some revival in demand, the auto majors Mahindra and Mahindra (Rs 230 crore versus Rs 200 crore) and Bajaj Auto (Rs 365 crore versus Rs 300 crore) also posted increases.

Interestingly, in spite of talk of under-recoveries, the oil marketing companies returned to paying advance taxes with IOC paying Rs 255 crore versus nil last year while BPCL paid Rs 202 crore, the official said.

On the infrastructure side, EPC giant Larsen & Toubro's payout estimate was flat at Rs 350 crore, while the cement companies posted a dip, the official said.

ACC paid Rs 85 crore versus Rs 96 crore, while the collection from Ambuja fell to Rs 115 crore from the year ago's Rs 150 crore. Aditya Birla Group company Ultratech paid Rs 160 crore as against Rs 250 crore.

Hindalco, the flagship company of the Aditya Birla group, posted a fall in advance tax payout at Rs 90 crore as against the Rs 130 crore last year, the official said.

Among other conglomerate companies, Tata Steel posted a rise to Rs 525 crore as against Rs 500 crore, while Sajjan Jindal-led JSW Steel's payout plummeted to Rs 10 crore from the year ago's Rs 130 crore, the official added.

Pharma players reported a good quarter with Lupin paying Rs 165 crore, up from the year ago's Rs 100 crore, while Cipla's payout increased to Rs 95 crore from the year ago's Rs 80 crore, the official said.

Single Page Format
Ads by Google
Reader´s Comments
| Post a Comment
Please Wait while comments are loading...