Leading India-based Multinational Corporation Infosys Limited spent Rs 360 crore on various Corporate Social Responsibility (CSR) programmes during FY 2019-20. As per its annual report, the company’s CSR expenditure amounted to Rs 340 crore last year.
The report shows that an amount of Rs 115.35 crore has been spent mainly in Bengaluru.
“The gross amount required to be spent by the Company during the year is Rs 360 crore and there was no amount unspent during the year,” the company’s annual report said.
The company’s average net profit for the last three financial years amounted to Rs 17,978 crore. Its prescribed CSR expenditure stood at Rs 359.56 crore.
Firmly believing in abiding by the provisions of section 135 of the Companies Act, 2013 (Corporate Social Responsibility Rules, 2014), Infosys Limited has come up with several initiatives in the areas like protection of national heritage, restoration of historical sites, and promotion of art and culture. It has also made efforts for ensuring destitute care and rehabilitation; environment protection, sustainable development and maintaining ecological balance; providing an easy access to education for all, and enhancing vocational skills; along with promoting healthcare including preventive healthcare, and rural development initiatives.
The company’s report shows that a special committee for its Corporate Social Responsibility has been made. All the resources were allocated to a corpus and used throughout the year on these areas in accordance with Schedule VII of the CSR Act.