Advance tax payments by several automobile, power, cement and banking majors in the third quarter have been stronger compared to the year-ago pay-outs.
Automobile firms like Tata Motors, Bajaj Auto and Mahindra & Mahindra (M&M) paid advance tax of Rs 100 crore, Rs 320-crore and Rs 195 crore, respectively, indicating a strong third quarter performance.
Tata Motors had not paid any advance tax for the same period last year and its entire payment till the third quarter of this fiscal was Rs 260 crore against Rs 90 crore last year.
M&M's advance tax payment this quarter jumped from just Rs 5 crore last year to Rs 195 crore this year, with the overall payment till third quarter at Rs 325 crore against Rs 35 crore last year.
Bajaj Auto's payments were at Rs 100 crore in third quarter last fiscal compared to 320 crore this quarter, taking the this year's payments to Rs 540 crore from Rs 240 crore last year.
The uptick was reflected in the payments of power firms as well with Tata group company, Tata Power, paying Rs 81 crore in the third quarter against Rs 29 crore in the year-ago period. In entirety its payment stands at Rs 177 crore against just Rs 57 crore last year.
Reliance Power paid three-times more this quarter at Rs 60 crore against Rs 20 crore in the year-ago period. Its overall advance tax payment in this fiscal stands at Rs 75-crore against Rs 35-crore last year.
Cement manufacturers reveal a mixed picture with some paying more in the quarter but with their overall payment falling and vice-versa.
ACC has paid an advance tax of Rs 110 crore this time against Rs 125 crore in the third quarter last fiscal. However, its overall payment has increased to Rs 320 crore against Rs 220 crore last year same period.
Ambuja Cement has paid Rs 150 crore this quarter against Rs 140-crore in the year-ago period but its overall pay-out stands reduced at Rs 370-crore from Rs 415-crore in the year-ago period.
Two other cement companies, Ultratech Cement and Lafarge, have recorded a growth in both third quarter as well as in their overall payments. Ultratech has paid Rs 95 crore against Rs 65 crore in third quarter last fiscal and overall a total of Rs 165 crore against Rs 140 crore in the same period last year.
Lafarge has paid Rs 65 crore in this quarter against Rs 60 crore in the last year while its overall advance tax payment stands at Rs 110 crore against Rs 83 crore in the year-ago period.
Infrastructure major L&T's advance tax payment during this quarter stands reduced at Rs 270 crore compared to last year's Rs 310-crore while overall, its pay-out is up by Rs 30 crore at Rs 590 crore against Rs 560 crore in the corresponding period last year.
Amongst financial sector players, HDFC Bank, NABARD and Bank of Baroda, have paid a higher advance tax during this quarter while ICICI, Bank of India and Central Bank of India have shelled out a lesser amount compared to the same period last fiscal.
HDFC Bank has paid Rs 400 crore advance tax against Rs 250 crore in the year-ago period while overall, it has paid Rs 1,070 crore compared to Rs 780 crore last year.
Home-loan lender, HDFC, has paid Rs 320 crore as advance tax this quarter against Rs 280 crore in the year-ago period. Its overall tax pay-out stand at Rs 810 crore against Rs 710 crore last year same period.
Bank of Baroda has paid Rs 350 crore this quarter against Rs 220 crore in the year-ago period while its overall pay-out stands higher at Rs 980-crore against Rs 615 crore last year same period.
NABARD has paid Rs 360 crore advance tax against Rs 220 crore in the year-ago period and overall, Rs 570 crore compared to Rs 460 crore it paid last year same period.
Kotak Mahindra has paid Rs 87 crore advance tax against Rs 40 crore it had paid in the year-ago period. Its overall tax contribution stands at Rs 167 crore as Rs 110 crore last year same period.
ICICI's advance tax contribution has come down to Rs 301 crore this quarter from Rs 625 crore in the same quarter last fiscal. The private sector lender's overall pay-out is also lesser at Rs 1,150 crore against last year's Rs 1,540 crore.
Bank of India and Central Bank of India's pay-outs have also shrunk at Rs 102 crore and Rs 138 crore, respectively, in this quarter against Rs 370 crore and Rs 163 crore, respectively, in the last year same period.
But both the banks have registered a growth in their overall pay-outs with Bank of India shelling out Rs 602 crore so far this fiscal compared to Rs 582 crore in the last fiscal while Central Bank of India has paid Rs 50 crore more at Rs 300 crore.
