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