Infosys CEO Salil Parekh earned $7.9 million or nearly Rs 66 crore in fiscal year 2024 in salary – one of highest payouts among the top IT firms –, according to company’s annual filings revealed on Monday.
Parekh's payout was up by around 17 per cent as compared to last fiscal.
The longest-serving non-founder CEO at the tech firm took home Rs 74.7 million in total fixed pay and Rs 197.5 million rupees in bonuses, incentives and variable pay, Infosys said.
His compensation also included Rs 390.3 million rupees as perquisites on account of stock options.
In FY 22-23 too, Parekh earned Rs 56 crore annually, the highest among IT company CEOs.
The increase in pay compared to last year was primarily led by a higher number of stock options exercised during the year.
The company recorded its slowest annual revenue growth rate ever in fiscal year 2024 in terms of constant currency growth.
For fiscal 2025, Infosys forecast revenue growth between 1 per cent and 3 cent in constant currency, while according to most analysts, it could range from at least 2 to 5 per cent.
As revealed last month, Tata Consultancy Services (TCS) CEO and MD K Krithivasan received an annual compensation of Rs 25.36 crore in the financial year 2023-24 – the lowest among large IT companies.
Infosys Pune HQ. Image Source: Unsplash
Comments