Corporate social responsibility and corporate financial performance have become important research areas in recent years. While pursuing profits, corporations should also fulfill social responsibilities to advance social well-being, which can in turn contribute to the success of business. This research paper provided overview of corporate social responsibility, its provisions and theories. It also studied the difference in the amount of CSR spent in PSUs and non-PSUs as well as listed and unlisted companies. It further analysed the impact of corporate social responsibility on corporate financial performance in selected Indian companies.