TCS CEO took home Rs 18.68 crore in FY'14

N Chandrasekaran, chief executive officer (CEO) of Tata Consultancy Services (TCS) earned a total of about Rs 18.68 crore (Rs 186. 8 million) in the 2013-14 fiscal.

According to TCS' annual report, Chandrasekaran, who became chief executive and Managing Director in October 2009, earned a commission of Rs 15 crore (Rs 150 million), benefits, perquisites & allowances of Rs 2.38 crore (Rs 23.8 million) and a salary of Rs 1.3 crore (Rs 13 million) for the year ended March 31, 2014.

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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.

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In the letter to the shareholders, Chandrasekaran said: "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)."

Under 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).

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For the January-March 2013-14 quarter, TCS reported a 48.2 per cent jump in consolidated net profit to Rs 5,357.6 crore (Rs 53.57 billion) against Rs 3,615.64 crore (Rs 36.15 billion) a year earlier.

Consolidated revenue for the quarter was up 31.2 per cent to Rs 21,551.09 crore (Rs 215.51 billion) from Rs 16,430.09 crore (Rs 164.30 billion) in the year-ago period.

The results are on India GAAP 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.