Bharti Airtel Managing Director Gopal Vittal received a total remuneration of Rs 16.84 crore in the financial year 2022-23, which is 10.39 per cent higher than the previous year. The remuneration comprised salary and allowances of Rs 10.09 crore and a performance-linked incentive of Rs 6.74 crore, and a nominal sum towards perquisites.
“The remuneration of Gopal Vittal excludes perquisite value of Rs 137,857,311 towards exercise of stock options during FY 2022-23,” according to Bharti Airtel’s annual report for 2022-23.
According to the report, Vittal’s annual remuneration was higher than Bharti Enterprises Chairman Sunil Bharti Mittal’s Rs 16.77 crore. This is because Mittal’s annual salary and allowances of Rs 10.06 crore as compared with FY22.
Mittal’s Rs 16.77-crore annual remuneration in FY23 included salary & allowances of Rs 10.06 crore, a PLI of Rs 4.5 crore and perquisites of Rs 2.2 crore.
In the annual report, Vittal said, “We added 23.3 million 4G customers to our network. We enjoy a premium position in the industry and increased our ARPU to Rs 193 in Q4 FY 2022-23, which was the highest in the industry. A key priority for us is to expand our footprint in rural areas where we are not present.”
He added that on Broadband, the company continued to gain momentum and delivered its highest-ever net adds of 1.6 million. On DTH, Airtel gained market share despite broader industry softness.