Results for: Corporate social responsibility

Indian companies’ corporate social responsibility (CSR) expenditures increased at a slower rate than their average net profits in FY23. The total CSR spending by companies listed on the National Stock Exchange was 15,524 crore, just a 5% increase compared to the previous year’s 14,816 crore. This growth was despite a 13% rise in average net profits over the preceding three years. The slow growth resulted in CSR spending as a percentage of net profit falling to a six-year low of 1.87% in FY23. The top CSR spenders were HDFC Bank and Tata Consultancy Services. HDFC Bank spent 821 crore, while TCS spent 783 crore. Energy and power giants Reliance Industries and NTPC were also among the top spenders.

Spirit Airlines has recently announced the appointment of three new members to the Spirit Charitable Foundation’s Board of Directors. The board now consists of seven dedicated individuals who volunteer their time and expertise to support the foundation’s mission of positively impacting children, families, service members, and the environment. The new board members include Blake, DeAnne, and Jordan, who bring extensive experience and passion for philanthropy. This announcement coincides with the recent opening of Spirit Central in Dania Beach, Florida, which highlights the airline and the foundation’s ongoing commitment to Broward County.

AirAsia Philippines lauds the Airport Press Club (APC) for its significant contributions to the airline and the aviation industry over the past six decades. The airline recognizes APC’s impartial reporting and its efforts to inform air travelers. AirAsia and APC collaborate closely, especially during emergencies, to support affected communities through corporate social responsibility programs.

The Alstom Foundation has donated to the “Qazastanhalkyna” public fund to support flood relief efforts in Kazakhstan. The fund will use the donation to build houses for those impacted by the floods, with memorandums already finalized to build 314 houses in three regions. Alstom employees in Astana have also donated clothing to the “Istoki dobra” charitable fund to assist individuals in need in Northern Kazakhstan.