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Top Indian companies pay higher advance tax in 4Q11

Several leading Indian corporates have paid more advance tax in the fourth quarter of financial year 2011 as compared to the year before, indicating their healthy financial performances.

Two majors – fast-moving consumer goods company Hindustan Unilever Ltd and Tata Motors – have, however, paid less. While HUL paid INR150 crore (INR1.5 billion, USD32.66 million), this time as against INR170 crore (INR1.7 billion, USD37.01 million) in the period the year before, Tata Motors has paid a meagre INR50 crore (INR500 million, USD10.89 million) as advance tax in fourth quarter of the financial year 2011 as against INR115 crore (INR1.15 billion, USD25.04 million), in the same period last fiscal year, a source said.