Infy’s CSR spending at Rs 312cr in FY’18; exceeds the target

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Bengalure: Infosys, India’s second largest software services firm, has spent Rs 312.60 crore on CSR activities during the 2017-18 fiscal, slightly higher than the targeted amount of Rs 310.25 crore.

The company works primarily through its CSR trust The Infosys Foundation that implements various projects with the help of non-governmental organisations.

According to the 2017-18 annual report, the company has spent Rs 31.13 crore on rural development in Karnataka, Andhra Pradesh and Assam, while Rs 25.49 crore on protection of national heritage, restoration of historical sites and promotion of art and culture.

Infosys has spent Rs 21.06 crore on rehabilitation for homeless and orphans in Karnataka and Chandigarh and Rs 8 crore on eradicating hunger, poverty and sanitation programmes through The Akshaya Patra Foundation during the 2017-18.

Further, the company has spent Rs 6.10 crore on promoting education and enhancing vocational skills and Rs 2.9 crore on promoting healthcare in the said period.

On environmental sustainability and ecological balance, the company has spent Rs 206.24 crore on rejuvenation of lake, solar, biogas and biomass cook stove projects in various states.

“During the year, we augmented the capacity of our solar installations. Currently, we have a total installed capacity of around 46.2 MW across our campuses. Total percentage of renewables in electricity consumption is around 43 per cent for 2018 fiscal,” said the annual report placed before the Infosys’ Board of Directors.

Infosys’ average net profit for the last three financial years was Rs 15,513 crore. It is required to keep aside two per cent of the net profit for CSR expenditure.

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