Azim Premji's son, Rishad Premji's salary doubled to Rs 130000000, still lesser than Wipro's…, who earns Rs…
Premji, in the fiscal year 2023-24, did not take any commission since the company's incremental consolidated net profit for the year was negative, and took a pay cut of about 20 per cent with a salary of USD 769,456 (about Rs 6.4 crore).
However, during the 2024-25 fiscal year, with the Bengaluru-headquartered firm reporting an 18.9 per cent rise in net profit to Rs 13,135.4 crore, Premji's remuneration more than doubled to USD 1.6 million (about Rs 13.7 crore) in FY25, from USD 769,456 (about Rs 6.4 crore) in FY24, Wipro's 20-F filings with the US Securities and Exchange Commission showed.
Srinivas Pallia, who assumed the role of CEO and Managing Director on April 7, 2024, received a total compensation of USD 6.2 million (about Rs 53.64 crore) in FY25.
Pallia's takeaway is less than half that of Wipro's former CEO Thierry Delaporte, who drew a salary of USD 20 million (about Rs 168 crore) in FY24.
The document showed that Pallia earned about USD 1.7 million in salary and allowances, about USD 1.7 million as commission/variable pay, about USD 2.8 million classified as 'others', and USD 68,850 as long-term compensation.
Rishad Premji and Srinivas Pallia are entitled to a commission at the rate of 0.35 per cent on incremental consolidated net profits of the company over the previous fiscal year, the filing said.
Further, Pallia was granted 16,77,202 stock options for varying lock-in periods. There were no stock options granted to Premji in FY25.
(With Inputs From PTI)
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