Winning Bizness Desk

Mumbai. Bharti Airtel Chairman Sunil Bharti Mittal has witnessed a substantial hike in his annual salary, which surged by 92 percent to Rs 32.27 crore in the financial year 2023-24, up from Rs 16.72 crore in the previous financial year 2022-23. This represents an increase of Rs 15.50 crore. For the financial year 2023-24, Mittal's salary and allowances totaled Rs 21.5 crore which included Rs 7.5 crore as Performance Linked Incentive (PLI) and Rs 3.1 crore in additional allowances. In comparison, for the financial year 2022-23, his salary and allowances were Rs 10 crore, comprising Rs 4.5 crore in performance linked incentives and Rs 2.2 crore in perks.

Mittal oversees conglomerate operation

Sunil Bharti Mittal, the founder and chairman of Bharti Enterprises, oversees a conglomerate operating in sectors ranging from telecommunications and manufacturing to insurance and hospitality. Bharti Enterprises' portfolio includes companies such as Bharti Airtel, Indus Towers, Del Monte Foods, Gourmet Investments, and Amtel. As of June 2024, promoters hold approximately 53.17 percent stake in Bharti Airtel, while the public holds 46.77 percent. According to BSE Analytics, Airtel's market capitalization stands at Rs 8.50 lakh crore, making it a part of the BSE Sensex. The face value of the company's shares is Rs 5.

Bharti Airtel has earned reputation

Bharti Airtel announced that its Board of Directors will meet on August 5, 2024, to consider and approve the audited financial results (standalone and consolidated) for the first quarter (Q1) ended June 30, 2024. Sunil Bharti Mittal is recognized as one of India's most successful entrepreneurs, particularly known for his contributions to the telecom sector. He founded Bharti Airtel, which has grown into one of the largest telecom networks in India and several parts of the world. In addition to mobile services, the company provides broadband, digital TV, and other telecom services.

Meanwhile, Bharti Airtel has made a profit of Rs 4,160 crore in the first quarter of FY 2025. It has increased by 157.90% on an annual basis. In the same quarter a year ago, the company had a profit of Rs 1,613 crore. In the April-June quarter, Bharti Airtel's consolidated operational revenue (income from operations) grew 2.85% year-on-year to Rs 38,506 crore. In the same quarter a year ago, the company's revenue was Rs 37,440 crore.