Wipro CEO among highest paid in IT sector. How his pay compares with peers at Infosys, TCS
Premium- Thierry Delaporte is the CEO and MD of Wipro since July, 2020
Wipro Chief Executive Officer (CEO) and Managing Director (MD) Thierry Delaporte's salary rose to a total of $10.51 million ( ₹79.8 crore) in FY22, as per the company's annual report filed with the US SEC, making him one of the highest paid executives in the Indian IT sector.
He drew a pay package of $8.7 million (around ₹64.3 crore) in the financial year 2020-21. His compensation in the last fiscal year was for the nine months period from July 6, 2020, to March 31, 2021.
Thierry Delaporte is the CEO and MD of the IT company since July 6, 2020, with 27 years of experience in the IT services industry. Prior to joining Wipro, Delaporte held various leadership positions in Capgemini since 1995, including that of Chief Operating Officer (COO) from September 2017 to May 2020.
Meanwhile, Wipro Chairman Rishad Premji received a total compensation of $1.82 million, while Jatin Pravinchandra Dalal received a $1.59 million package in fiscal year 2022, the document showed.
In comparison, Infosys' CEO Salil Parekh received a total remuneration of ₹71 crore including stock options in FY22, while Rajesh Gopinathan, the chief executive of India's top IT company Tata Consultancy Services Ltd (TCS) received a compensation of ₹25.8 crore.
For the fourth quarter ended March 2022, Wipro Ltd posted a 4% increase in its consolidated profit to ₹3,092.5 crore as compared to ₹2,974 crore in the same period a year ago. The Bengaluru-based company’s consolidated revenue from operations grew by 28% to ₹20,860 crore from ₹16,245 crore.
Operating margin of the company during the quarter stood at 17%, down 60 basis points on a sequential basis. Whereas, IT services revenue during the March quarter stood at $2,722 million, an increase of 26% year-on-year (YoY).
Wipro expects revenue for the first quarter ending 30 June to be in the range of $2.74 billion-$2.80 billion. This translates to a sequential growth of 1-3%, lower than the 2-4% it had guided for the March quarter.