Macroeconomic challenges mute demand for frontline workers in FY23
According to the latest BetterPlace’s Frontline Index Report, the total demand for frontline jobs decreased by 17.5%.
N Chandrasekaran, chairman of Tata Sons, was paid Rs 113 crore as remuneration for Financial Year 2022-23. The amount includes Rs 100 crore as commission on profit, said the annual report of Tata Sons.
In the last fiscal, the chairman was paid a remuneration of Rs 109 crore.
Also, the Executive Director of the company, Sourabh Agrawal, was paid a remuneration of Rs 27.82 crore, including Rs 22 crore as commission.
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It is to be highlighted that the company reported Rs 35,058 crore as revenue in FY23 and a profit of Rs 22,132 crore on a standalone basis. It reduced its net debt to Rs 20,642 crore in FY23, compared to Rs 27,516 crore in FY22.
Non-executive director of Tata Sons, Ajay Piramal, the billionaire owner of the Piramal group, was paid a remuneration of Rs 2.8 crore in FY23.
However, another non-executive director Venu Srinivasan, chairman of TVS group, has not taken any money from Tata Sons since his appointment.
Other Tata Sons directors, Vijay Singh, Harish Manwani, Leo Puri, Bhaskar Bhat, and Ralf Speth were paid a remuneration of Rs 2.8 crore each for FY23 as commission.
Anita George, who was appointed as an independent director in July 2022, was paid Rs 2.1 crore as remuneration.
Tata Sons said it is registered as a Core Investment Company with the Reserve Bank of India and has transferred Rs 4,426.50 crore in FY23 to a special reserve created as per law.
For the last fiscal, the company earned Rs 24,132 crore in revenue and made a profit of Rs 17,171 crore.
Tata Consultancy Services (TCS), the subsidiary of Tata Sons, paid the highest dividend to Tata Sons.
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