Doing good, while doing business

Overall spends of the universe increased 25% to Rs 6,550 cr, or 1.7% of their 3-year average profits

Institutional investor Advisory Services (IiAS) studied the FY16 corporate social responsibility (CSR) initiatives and disclosures of the S&P BSE 100 companies. The data reveal companies are taking their CSR initiative seriously.  Overall spends of the universe increased 25% to Rs 6,550 crore, or 1.7% of their three-year average profits. The largest increase in overall spends have been from public sector undertakings (PSUs), which have increased their spends by 41%. PSU spends, at 1.8%, are higher than those of non-PSUs (which are at 1.7%). Over 60% of the aggregate FY16 spend was made towards the causes of education, hunger, health care and poverty alleviation. Contributions to the Prime Minister’s Relief Fund, and to the Swachh Bharat Campaign aggregated a little less than Rs 400 crore. As many as 48 companies undertook CSR initiatives that were strategically positioned to the core business. Here are some key numbers:

Source: IiAS