New Delhi: Thierry Delaporte the former CEO and MD of Wipro has clinched the title of the highest-paid CEO in India’s IT sector for FY24. His earning exceeds 20 million dollars (or above Rs 165 crore), this marks his second consecutive year at the top.
After resigning from the IT software major in April, Delaporte has been replaced by Srinivas Pallia. Delaporte earned over 3.9 million dollars in salary and allowance along with more than 5 Dollars million in commission/variable income, as revealed by Wipro’s 20-F filings with the US Securities and Exchange Commission (SEC). (Also Read: Buddha Purnima Holiday: Banks To Remain Closed In THESE Cities & States On May 23)
In addition to his salary and commission he received 7 million dollars in additional payments and over 4 million dollars in long-term compensation. Meanwhile Pallia who replaced him commands an annual salary package of around Rs 50 crore, securing the second position among CEOs in India’s IT industry for FY25. (Also Read: Paytm Layoffs: Company Signals Potential Job Cuts Amid Sales Decline)
This comes when Wipro’s revenue in FY24 fell (year-on-year) to Rs 89,760 crore from Rs 90,486 crore. The 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. (With IANS Inputs)