TCS Chief Chandrasekaran Took Home Rs 18.68 Crore in FY14

Tata Consultancy Services (TCS), the country's largest software services firm, chief executive officer (CEO) N Chandrasekaran earned a total of about Rs 18.68 crore in the 2013-14 fiscal.

According to TCS' annual report, Mr Chandrasekaran, who became chief executive officer and managing director in October 2009, earned a commission of Rs 15 crore, benefits, perquisites & allowances of Rs 2.38 crore and a salary of Rs 1.3 crore for the year ended March 31, 2014.

Mr Chandrasekaran holds 88,528 shares in TCS.

The total remuneration does not include provisions for encashable leave, gratuity and premium paid for group health insurance, as separate actuarial valuation/ premium paid are not available for the managing director, it added.

"Your company's services portfolio individuals continued to grow, with an increase in number of customers in $1 million plus band increased to 714 (addition of 76 new customers) and in the $100 million plus band to 24 (addition of 7 new customers)," Mr Chandrasekaran said in the letter to the shareholders.

Under Mr Chandrasekaran TCS posted a stellar performance in 2013-14 and reported a record consolidated revenue of Rs 81,809 crore (up 29.9 per cent) and posted a net profit of Rs 19,164 (up 37.7 per cent).

For the January-March 2013-14 quarter, TCS reported a 48.2 per cent jump in consolidated net profit to Rs 5,357.6 against Rs 3,615.64 crore a year earlier.

Consolidated revenue for the quarter was up 31.2 per cent to Rs 21,551.09 crore from Rs 16,430.09 crore in the year-ago period. The results are on India GAAP (generally accepted accounting principles) basis.

It added a net 9,751 employees in the fourth quarter and a net 24,268 employees during the entire financial year to take its head count to 300,464.