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HomeBusinessHCL Technologies' C Vijayakumar Was India's Highest Paid IT Chief Last Year

HCL Technologies’ C Vijayakumar Was India’s Highest Paid IT Chief Last Year

HCL Technologies’ CEO, C Vijayakumar, turned the India’s highest paid IT government

C Vijayakumar, the Chief Executive Officer of HCL Technologies Ltd, turned the very best paid high government of IT companies in India with a complete incomes of $16.52 million (Rs 131.08 crore), together with LTI (long-term incentive), final 12 months. He obtained $4.13 million in wage.

“Mr Vijayakumar, Chief Executive Officer, did not receive any remuneration from the company. However, he received $4.13 million (equivalent to Rs 30.60 crores) as remuneration from HCL America Inc., a wholly-owned step-down subsidiary of the company, during the financial year 2020-21,” in accordance with the corporate’s annual report.

Mr Vijayakumar obtained $2 million as base wage, $2 million in variable pay and $0.02 million in perquisites together with different advantages for the final monetary 12 months. However, his remuneration through the FY 2021-22 remained unchanged.

The LTI is paid each two years as per the achievements of milestones mounted by the board, the report added. Out of the entire LTI quantity for 2 years that ended on March 31, 2021, $6.25 million was paid for every monetary 12 months of FY 2019-20 and FY2020-21.

Vijayakumar was elevated because the managing director on July 20 final 12 months after HCL founder Shiv Nadar stepped down.

According to the annual report, HCL applied sciences posted a sequential drop of 8.6 per cent within the consolidated internet revenue to Rs 3,283 crore for the quarter ending on June 30 for FY 23.

However, for the June 2022 quarter, it noticed a 2.4 per cent  soar in its year-on-year internet (YoY) revenue in comparison with Rs 3,218 crore within the corresponding quarter final 12 months.

HCL’s income from operations throughout April-June 2022 interval elevated by 16.9 per cent YoY to Rs 23,464 crore.

In May, one other IT boss, Infosys CEO Salil Parekh, obtained an 88 per cent soar in wage from his earlier 5-year time period after his reappointment to the highest publish efficient from July 1. The Infosys board authorised a Rs 79.75 crore wage for Parekh.

TCS CEO Rajesh Gopinathan is incomes an annual wage of Rs 25.76 crore, whereas Wipro’s Thierry Delaporte has a pay bundle of Rs 64.34 crore. Tech Mahindra CEO CP Gurnani earns Rs 22 crore.

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