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Mukesh gets Rs 10 for profit of Rs 1,000
Sunday, September 30, 2007 15:09 [IST]
DNAIndia

New Delhi: Top corporate honcho Mukesh Ambani makes close to Rs 1,000 every second for his flagship company Reliance Industries and, in turn, gets a reward of one per cent of this additional profit or Rs 10 per second.

The paycheck of Ambani, already richest Indian in world and highest paid corporate chief in India, got fatter by over Rs five crore to Rs 30.46 crore in the financial year 2006-07. This represents an increase of Rs two per second from his previous fiscal's paycheck of Rs 24.77 crore, reveals RIL's annual report for 2006-07 currently being sent to investors.

However, the hike of more than 20 per cent has come along with a jump of about 32 per cent in RIL's net profit to Rs 11,943 crore in the latest fiscal, as against Rs 9,069 crore in the previous year. The company's turnover also rose by over 32 per cent to Rs 1,18,354 crore in the year. "RIL has become first and only private sector company to record turnover of over Rs 1,00,000 crore and net profit exceeding Rs 10,000 crore," the company's annual report quoted Ambani as saying.

The company's "excellent performance" has cemented its position as the largest private sector enterprise in terms of revenue, profit, net worth, assets and market cap, he added. Earlier this month, RIL became India's first company to achieve a market cap of more than Rs 3,00,000 crore. The hike of over Rs 5 crore in Mukesh Ambani's annual remuneration further extends the gap from the annual paycheck of his younger brother Anil, with whom he separated in June 2005, to more than Rs 27 crore.


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