Taxation boost

These companies have shown greater profits or lesser losses due to significant tax write-backs

Taxation boost

"In this world nothing can be said to be certain, except death and taxes," said Benjamin Franklin, one of the Founding Fathers of the United States. He was right. Taxes have not just stayed since then but have also become more pervasive. For most of us, they mean less money in hand. But there are some companies for which they have meant more profits or a reduction in losses.

The table below lists companies which have received significant tax write-backs in the previous financial year. These write-backs are more than 25 per cent of their profits before taxes. Because of these tax credits, their profits have got a boost or their losses have significantly reduced. One should take into account the impact of the write-backs to form a proper picture of their performance.

Existential crisis

Company nameProfit before tax (Rs cr)Tax write-back (Rs cr)Profit after tax (Rs cr)Tax to PBT (%)
Shipping Corporation29224254760.8
Piramal Enterprises 196428764840146.5
Aditya Birla Fashion4969118140.5
State Bank of India-122458058-418765.8
Bank of Maharashtra-32322120-111265.6
DCW -4929-2058.8
Claris Lifesciences -3420-1458.2
United Bank of India-29471492-145450.6
IFCI -1720749-97243.5
Alok Industries -53912321-307043
Udaipur Cement Works -7330-4340.7
Dena Bank-31791256-192339.5
Corporation Bank-66752625-405039.3
Lakshmi Vilas Bank -951366-58538.5
Andhra Bank-54412047-339437.6
Punjab National Bank-198467262-1258436.6
Canara Bank-64082321-408736.2
Central Bank Of India-78762780-509635.3
IDBI Bank -124954338-815734.7
Sanghvi Movers -8830-5734.6
Idea Cellular -68222331-449134.2
JK Lakshmi Cement 33114333.4
Inox Wind -28093-18833.1
Steel Authority of India -811245-56630.2
Bank of India-86602587-607329.9
Allahabad Bank-64521878-457429.1
Rajapalayam Mills 1441827.8
Gayatri Projects 2062627.6
Syndicate Bank-42771165-311227.2
Indian Overseas Bank-86322332-629927
Data as on August 13, 2018. Market cap more than Rs 500 crore. Tax to PBT over 25%

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