The answer to the question that formed the title of my previous post is, as per my instinct, "Yes".
To help me with this argument,I came across a book by the late Mr. C. K Prahalad called "The fortune at the bottom of the pyramid".
The book includes several case-studies of corporates that have earned great profits by doing good!
I think every big corporate company should follow this principle to simultaneously eradicate poverty while earning profits.
The entire book is available online on googlebooks. But, for those who'd like a hard copy, I found it at Landmark for Rs 650/-. My guess is that it should be easily available at any good book store in India.