BENGALURU: Wipro CEO and MD Srinivas Pallia, who assumed the role in April last year, took home about Rs 53.4 crore ($6.27 million) in FY25, according to the IT services firm's latest 20-F filing with the US Securities and Exchange Commission.
Interestingly, Wipro Executive Chairman Rishad Premji's remuneration more than doubled from Rs 6.4 crore in FY24 to about Rs 13.7 crore ($1.6 million) in FY25, due to the increase in the company's net profit.
In FY24, Rishad Premji did not take any variable pay. He was entitled to a commission at the rate of 0.35% on incremental consolidated net profits of the company over the previous fiscal year. "However, in light of the fact that the incremental consolidated net profits for fiscal year 2024 was negative, the company determined that no commission was payable for fiscal year 2024 to Premji," the company had said in its FY24 annual report.
In FY24, Wipro's former CEO Thierry Delaporte took home about Rs 166 crore, which made him the highest-paid CEO of the Indian IT sector.
There were no stock options granted to Rishad Premji in fiscal year 2025.
The filings also mentioned that as of March 31, 2023, 2024 and 2025, the company and its subsidiaries had more than 250,000, 232,000 and 230,000 employees, respectively. As of March 31, 2023, 2024 and 2025, more than 49,000, 41,000 and 38,000, respectively, of these employees were located outside India. "We have increasingly focused on hiring local resources in the countries where we operate. Highly trained and motivated people are critical to the success of our business. To achieve this, we focus on attracting and retaining the best people possible," the company said.
In July 2024, the company adopted a new scheme for the grant of employee stock options, performance stock units and/or restricted stock units to the eligible employees of the company and Wipro Limited group companies.
The company also said in its filings that the cost of revenues decreased by 2.17%, primarily due to a one-time employee restructuring cost of Rs 383.8 crore in fiscal year 2024.
Its total employee compensation costs decreased due to lower average headcount in fiscal year 2025 as compared to fiscal year 2024 and was partially offset by the impact of salary increases and promotions.