Thursday, August 25, 2016

IndiGo's Aditya Ghosh gets Rs 21-cr incentive after record profit

Mumbai: IndiGo’s President and whole-time Director Aditya Ghosh took home Rs 27 crore in salary, including Rs 20.9 crore in one-time incentive for the financial year ended March 31, 2016.
India’s most profitable airline was also generous in rewarding its 12,000-plus employees who received an average 42 per cent rise in remuneration in FY16.

Ghosh received the incentive “in recognition of his efforts towards the growth and success of the company during the financial year ending March 31, 2016,” the airline said in its annual report.
Ghosh earned Rs 27 crore in gross salary and 700,000 shares in stock options in FY16. In FY15, he had received a gross remuneration of Rs 3.7 crore, according to the airline’s initial public offering prospectus.
IndiGo was listed on the stock exchange last year and posted over 52 per cent rise in profit in FY16. The Gurgaon-based airline’s profit rose 52.6 per cent to Rs 1,989 crore in FY16, against Rs 1,304 crore in FY15. This was the airline’s eighth consecutive annual profit.
A lawyer by training, Ghosh served as a general counsel for IndiGo’s parent InterGlobe Enterprises before taking over as the airline president in 2008.
In the last financial year, there was 20.1 per cent increase in median remuneration of employees and 42.8 per cent rise in average remuneration of the employees. The airline said the 42 per cent rise in remuneration was linked to business and financial performance of the company and driven by achievement in annual corporate goals.
25/08/16 Aneesh Phadnis/Business Standard
To Read the News in full at Source, Click the Headline


Post a Comment