Electoral bonds: The biggest bond buyers outspent their profits to donate to political parties

Some of the largest taxpayers to political parties through electoral bonds They appear to have given away a considerable chunk of their profits, with Future Gaming & Hotel Services Pvt Ltd, the largest contributor, spending Rs 1,368 crore between April 12, 2019 and January 24, 2024.

The kicker? Future alone posted a combined net profit of Rs 215 crore over the past three years, putting its bond spend at more than six times its Profits. Qwik Supply Chainwhich donated the second largest amount of money at Rs 410 million, made a profit of only Rs 110 million, giving away 374% of its profits.

However, Future is not the only company that spends more than its coffers, with IFB Agro Industries and Haldia Energy among companies that donated more than Rs 50 million despite making just a little more than double that amount in profits.

IFB Agro Industries earned a combined net profit of Rs 175 crore between 2019-2020 and 2022-2023, of which it donated Rs 92 crore or 53%. Haldia Energy made a combined net profit of Rs 1,013 crore in the three years for which data is available and contributed Rs 377 crore or about 37% of what it earned.

While the largest donors have spent beyond their means, others have not stepped up, including companies like Dr Reddy and Torrente Pharmacy contributing just under 1% of their profits and spending Rs 50 million or more.

Some companies bought bonds despite having made losses during the last four years, such as Bharti Airtel and Navayuga Engineering, which contributed Rs 198 million and Rs 55 million, respectively. Most of the big donors were in sectors such as infrastructure, mining and pharmaceuticals.

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