By Our Correspondent
BHUBANESWAR/NEW DELHI: Naveen Jindal led Jindal Steel and Power Limited(JSPL) and its CSR arms, JSPL Foundation, led by Shallu Jindal, has spent around Rs 16 Crore during 2020-21 financial year for CSR activities while benefitting 20 Lakh people in States of Odisha, Jharkhand and Chhattisgarh.
It may be noted here that, despite losses in the preceding 3 years the JSPL was not required to spend any amount on corporate social responsibility (CSR) as per the provision of section 135 of the Companies Act, 2013. However, the company has voluntarily spent an amount of over Rs. 16 crores as CSR expenses during 2020-21. The figure was Rs. 26.86 Crores in 2019-20.
Both JSPL and JSPL Foundation earned huge praise for its commendable work during 1st and 2nd phases of COVID-19 and the Company was leading supplier of LMO during the pandemic to various COVID-19 hospitals across the Country. JSPL reported a contribution of Rs. 6,220 crores to the public exchequer by the way of paying excise duty, customs duty, GST, corporate tax, dividend, and other during the year 2020-21.
In FY 2020-21, JSPL recorded gross revenue of Rs. 37,051 crore and net revenue of Rs. 33,308 crores. Standalone EBITDA at Rs 13,055 crore is reported highest yet, with net profit soaring to Rs. 7,154 crores powered by strong business performance and cost-saving measures.
