If advance tax payments are an indication of super profits in Q4FY08, India Inc is headed right in that direction. Banks and cement firms are expected to report good numbers in the quarter ending March 31, 2008.
Take a look at the advance tax paid by leading corporates for January-March 2008 when compared with January-March 2007:
L&T has paid Rs 170 as against Rs 80 crore, ICICI Bank has paid Rs 250 crore as against Rs 125 crore and SBI has paid Rs 1,148 crore as against Rs 690 crore. Ambuja Cements has paid Rs 170 crore as against Rs 100 crore paid in the last fiscal.
Advance Tax
Company Name
Jan-Mar 2008
Jan-Mar 2007
Ambuja Cements
170
100
Bank of India
191
150
Bank of Baroda
220
50
BPCL
240
275
Castrol
46
24
Central Bank of India
221
0
Dena Bank
50
10
HDFC Bank
250
165
ICICI Bank
250
125
Indian Hotels
44
2
Indusind Bank
19
12
Larsen & Toubro
170
80
Mahindra & Mahindra
116
83
MRPL
100
20
Reliance
443
118
SBI
1418
690
Tata Chemicals
90
65
Tata Motors
75
190
Tata Power
43
0
TCS
115
20
Tech Mahindra
0
5.5
Tata Steel
300
350
UltraTech Cemco
155
110
Union Bank
130
100
(All figures are Rs in crore)
Reliance has paid advance tax of Rs 443 crore as against Rs 118 crore paid by the company for the last quarter of the previous fiscal.
Now, the reverse: Tata Motors, which had paid Rs 190 crore advance tax in the previous fiscal has reduced it to Rs 75 crore for the current fiscal. Tata Steel had paid Rs 350 crore, which has been pared to Rs 300 crore.
Some of them might regret this decision though atleast some banks may:-)
Joined: 01/Jan/2006
Location: India
Online Status: Offline
Posts: 18403
Posted: 18/Mar/2008 at 6:22pm
An assesement of these numbers do indicate that things are not that bad as they seem but markets are discounting Fy 09 whereas these numbers are for Fy 08 so maybe there is something in the negative sentiment.
'The Thoughtful Investor: A Journey to Financial Freedom Through Stock Market Investing' - A Book on Equity Investing especially for Indian Investors. Book your copy now: www.thethoughtfulinvestor.in
lets see really the way things are going people think world is coming to an end...i raelly dont understand why domestic people are waiting for ...do they FIis will sell more ...really wonder instead of building a retail market they are really killing the retail market ...but some of the froth was really overdone thign like nagarjuna fert and rnrl stocks which needed to bleed .Basantji was right again about ADAG which is declinging faster than the market .ADAG needs a kick in his a_ _ for making people mad about price movement .
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