The highest-paid CEO in the Indian IT sector in FY 2024 remained former Wipro MD and CEO Thierry Delaporte with over $20 million, or more than Rs 165 crore.
Delaporte maintained his position as the highest-paid CEO for two years in a row.
Delaporte had stepped down from the CEO role in April this year and had handed over the reins to Srinivas Pallia.
Wipro's 20-F filing with the SEC has detailed the payout of Delaporte, which included over $3.9 million as salary and allowances and more than $5 million coming from commission and variable income. Other than this, he received over $7 million as additional payments and more than $4 million as long-term compensation.
In contrast, Pallia draws an annual salary package of around Rs 50 crore, making him the second-highest-paid CEO in the Indian IT industry for FY 2025.
This occurs during a period of severe financial strain for Wipro, as seen by declining revenues in the fiscal year 2024. Year over year, revenue decreased from Rs 90,486 crore to Rs 89,760 crore.
Additionally, the Wipro company's revenue dropped 4.2 per cent to Rs 22,208.3 crore in the three months ended March 31, according to a stock exchange filing.
The Bengaluru-based company had reported a consolidated revenue of Rs 23,190.3 crore in the same quarter a year ago.
Wipro reported an 8 per cent net profit of Rs 2,835 crore for the January-March quarter of 2023-24 compared to the corresponding figure of Rs 3,074.5 crore in the same period last year.
Read also | Vodafone Idea Secures Rs 2,075 Crore Through Preferential Share Allotment to AB Group
Read also | SAIL's Q4 Profit Slips 2%, Reaches Rs 1,126 Cr; FY24 Net Profit Climbs to Rs 3,066 Cr
