Sunil Mittal's remuneration drops by 2% to Rs 23.8 cr
Aug 08 2014 , New Delhi
It was Rs 24.33 crore in the previous fiscal.
While Airtel's financial performance started improving from third quarter of 2013-14, the 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.