Tata Steel Secretary Parvatheesam K received a hike of 24.98% with his remuneration rising to Rs1.53 crore last fiscal. Photo: Indranil Bhoumik/MintNew Delhi: Tata Steel Managing Director (India and South East Asia) T V Narendran took home a salary of Rs8.17 crore in 2016-17, an increase of 11.87% from Rs7.3 crore in the previous year, according to the company’s annual report. During the year, there has been no exceptional increase in remuneration for key managerial personnel (KMP), Tata Steel said in its Annual Report 2016-17. Tata Steel, which saw its net loss widen to Rs4,168.57 crore last fiscal from Rs497.09 crore in the previous year, said the average percentage increase in salary of its employees, excluding the KMPs, in FY17 was 6.60%. Another independent director O P Bhatt had a remuneration of Rs1.29 crore during the fiscal, up 16.44% from the previous fiscal.

Source: Mint August 06, 2017 09:44 UTC