Sunil Bharti Mittal, chairman of India’s largest telecom operator Bharti Airtel, took home an annual pay package of Rs 30.1 crore for 2016-17.
The package was over 8 per cent higher than the previous year, when Mittal had drawn Rs 27.8 crore.
Mittal, who was last year re-appointed as chairman of the company for another five years, received salary and allowances of Rs 20.13 crore, while the performance-linked incentive stood at Rs 9 crore during FY17.
That alongwith Rs 1 crore worth of perquisites, took his overall remuneration to Rs 30.14 crore for the year just ended, according to the latest annual report of the telecom company.
Bharti Airtel Managing Director and CEO (India and South Asia) Gopal Vittal earned Rs 9.28 crore during FY17, which is almost 50 per cent higher than the previous fiscal year.
During the year, he received salary and allowances worth Rs 6.46 crore, Rs 2.82 crore as performance-linked incentive and Rs 28,800 in perquisites.
Vittal was also granted 150,000 stock options on August 8, 2016, under ESOP Scheme 2005, with a vesting period spread over three years.
Besides, the annual report said Vittal’s remuneration does not include perquisite value of Rs 3.1 crore towards the value of stock options exercised during the year.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.