 "Bharti Airtel's profit grows but chairman Sunil Mittal's salary falls 2% in FY14")
New Delhi: The annual remuneration of telecom major Bharti Airtel’s founder-Chairman Sunil Bharti Mittal dropped by about 45 lakh or 1.8 per cent to Rs 23.88 crore in last financial year.
It was Rs 24.33 crore in the previous fiscal.
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Bharti Airtel chairman Mittal Reuters[/caption]
While Airtel’s financial performance started improving from third quarter of 2013-14, the drop in the total remuneration of Mittal has been mainly due to Rs 75 lakh reduction in performance-linked incentive, as per the latest Annual Report of the company.
The company posted first increase in net profit at Rs 610 crore in the third quarter of 2013-14 ended December 31, 2014 and the momentum is still on.
The perquisites given to Mittal increased to about Rs 79 lakh in 2013-14, from about Rs 49.6 lakh a year.
The remuneration paid to Mittal in 2013-14 was almost double of the remuneration paid to all directors on the Airtel board. The total remuneration paid to all directors, including Mittal, stood at Rs 35.84 crore.
PTI