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TCS CEO took home Rs 18.68 crore in FY'14
N Chandrasekaran, chief executive officer (CEO) of Tata Consultancy Services (TCS) earned a total of about Rs 18.68 crore (Rs 186. 8 million) in the 2013-14 fiscal.
According to TCS' annual report, Chandrasekaran, who became chief executive and Managing Director in October 2009, earned a commission of Rs 15 crore (Rs 150 million), benefits, perquisites & allowances of Rs 2.38 crore (Rs 23.8 million) and a salary of Rs 1.3 crore (Rs 13 million) for the year ended March 31, 2014.
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TCS CEO took home Rs 18.68 crore in FY'14
Chandrasekaran holds 88,528 shares in TCS. The total remuneration does not include provisions for encashable leave, gratuity and premium paid for Group Health
Insurance, as separate actuarial valuation/premium paid are not available for the Managing Director, it added.
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TCS CEO took home Rs 18.68 crore in FY'14
In the letter to the shareholders, Chandrasekaran said: "Your company's services portfolio individuals continued to grow, with an increase in number of customers in $1 million plus band increased to 714 (addition of 76 new customers) and in the $100 million plus band to 24 (addition of 7 new customers)."
Under Chandrasekaran, TCS posted a stellar performance in 2013-14 and reported a record consolidated revenue of Rs 81,809 crore (up 29.9 per cent) and posted a net profit of Rs 19,164 (up 37.7 per cent).
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TCS CEO took home Rs 18.68 crore in FY'14
For the January-March 2013-14 quarter, TCS reported a 48.2 per cent jump in consolidated net profit to Rs 5,357.6 crore (Rs 53.57 billion) against Rs 3,615.64 crore (Rs 36.15 billion) a year earlier.
Consolidated revenue for the quarter was up 31.2 per cent to Rs 21,551.09 crore (Rs 215.51 billion) from Rs 16,430.09 crore (Rs 164.30 billion) in the year-ago period.
The results are on India GAAP basis. It added a net 9,751 employees in the fourth quarter and a net 24,268 employees during the entire financial year to take its head count to 300,464.