Ex-Wipro CEO becomes highest-paid exec in Indian IT industry for FY24

Former Wipro Chief Executive Officer (CEO) and Managing Director (MD) Thierry Delaporte has become the highest-paid CEO in the Indian IT industry for FY24 as he earned more than $20 million (or over Rs 165 crore). 

This is the second-consecutive year that he has become the highest-paid CEO.

Delaporte resigned from the IT software major in April and has been replaced by Srinivas Pallia.

According to Wipro's 20-F filings with the US Securities and Exchange Commission (SEC), Delaporte earned more than $3.9 million in salary and allowances and more than $5 million in commission/variable income.

He also received $7 million in additional payments and more than $4 million in long-term compensation.

In comparison, Pallia receives an annual salary package of around Rs 50 crore, ranking second among CEOs in the Indian IT industry for FY25.

This comes when Wipro's revenue in FY24 fell (year-on-year) to Rs 89,760 crore from Rs 90,486 crore.

The company's revenue dropped 4.2 per cent to Rs 22,208.3 crore in the three months ended March 31, according to a stock exchange filing.

The Bengaluru-based company had reported a consolidated revenue of Rs 23,190.3 crore in the same quarter a year ago.

Wipro reported an 8 per cent net profit of Rs 2,835 crore for the January-March quarter of 2023-24 compared to the corresponding figure of Rs 3,074.5 crore in the same period last year.