Complete IT compensation for Wipro CEO, Thierry Delaporte, stands at $10.51 million (Rs 79.8 crore) for 2021-22. Thierry Delaporte, Wipro’s Chief Executive Officer (CEO) and Managing Director (MD) earned $10.51 million (Rs 79.8 crore) in FY22. This makes him one of India’s highest-paid IT executives.Â
He received an $8.7 million payout package (approximately Rs 64.3 crore) for the 2020–21 financial year. His remuneration was for 9 months, from July 6, 2020, to March 31, 2021, specifically over the previous fiscal year’s remuneration. Â
Delaporte’s annual compensation included a salary and grants of $1.7 million. A variable commission or payment of $2.5 million. Other benefits of $4.1 million; and long-term compensation of more than $2.2 million.Â
Wipro said that Delaporte’s compensation includes things like a one-time cash prize. Shareholders will have to agree to at the Annual General Meeting of Shareholders in July 2020.Â
His Experience:Â
- Thierry Delaporte has been the CEO and MD of an IT company; since July 6, 2020. 27 years of professional experience in IT service companies.Â
- Before joining Wipro, he was a member of the board of directors and held numerous leadership positions at Capgemini, including Chief Operating Officer (COO) from September 2017 to May 2020. Â
- He supervised the conceptual planning and operations of various significant Capgemini businesses, as well as the company’s modernization initiative. Â
- The board of Compagnie de Saint-Gobain ratified Delaporte’s recruitment as an executive director for four years on March 24, 2022.Â
The document showed that Wipro Chairman, Rishad Premji, received total compensation of $1.8 million, while Jatin Pravin Chandra Dalal received a $1.59 million package for the financial year 2022. Â
Rishad Premji was also paid a cash bonus, which was a portion of his regular pay that was paid temporarily. The annual statement said that he has a commission mandate of 0.35% on Wipro’s combined profit for the 2022 financial year. For the previous financial year, the annual statement said, adding that no stock options were offered to Rishad Premji for the 2022 financial year.Â
In FY22, Infosys CEO Salil Parekh earned a full Rs.71 crore in salary plus stock options, while Rajesh Gopinathan, CEO of India’s largest IT enterprise, Tata Consultancy Services Ltd. (TCS), received Rs. 25.8 crore in remuneration.Â
Wipro Ltd posted a 4% increase in combined profit to Rs 3,092.5 crore compared to Rs 2,974 crore over the same period last year. The total income of the Bengaluru-based company from operations has increased by 28% to Rs 20,860 crore.Â
The company’s current quarter was 17 per cent, dropping 60 points from the past quarter. Although, revenue for IT services for the quarter of March stood at $2,722 million, an increase of 26% annually (YoY). Â
Wipro’s net profit for the January-March quarter of FY22 was £3,087 crore, up 3.8 per cent on-year from 2,972 million in revenues in the same quarter last year. For the full financial year 2021-22, total profits increased by 13.2% to Rs 12,219 crores compared to Rs 10,794.6 crores.Â
Wipro’s revenue for the quarter of January-March increased by 28% to Rs 20,860 crores compared to Rs 16,245 crores in the same the last quarter. The revenue generates for the full financial year stands at 79,090 crores compared to £61,943 crores, recording a growth of 26.9% on a fixed monetary basis. Â
Due to its high revenue, the company has achieved substantial double growth in all markets, companies, and global business lines. Â
The Wipro Board additionally authorized a quarterly profit of 1 and 5 cents per share on January 14 and March 25, 2022, respectively, which will be regarded as the ultimate benefit for the fiscal year 2021–22.Â
During the global economic downturn, Wipro stock traded 3.18% lower on the NSE today. Stocks declined 3.74% in the previous month, 27.96% in the last six months, and 36.02% for the year to date.Â
