Aditya Ghosh, the President of low-cost carrier Indigo, took home a gross income of Rs. 27 crore for the financial year that ended in March 2016. He also received 700,000 shares in stock options for the same year.
Ghosh had received a pay package of Rs. 3.7 crore for the financial year 2014-15, according to the company's initial public offering prospectus.
"The total remuneration paid to Aditya Ghosh includes one-time incentives of Rs. 20.9 crore paid in recognition of his efforts towards the growth and success of the company during the financial year ending March 31, 2016," Indigo said in its annual report.
On an average, the 12,000-strong workforce of the company reportedly received an average of 42 percent hike in salary during the last financial year.
Who is Aditya Ghosh?
Aditya Ghosh, 39, is the president and whole-time director of InterGlobe Aviation Ltd, which operates the Indigo airlines in India.
Ghosh was inducted into the board of directors of the company on May 30, 2007 and took on the role as the president in August 2008. He holds a bachelor's of law degree from the University of Delhi. Prior to joining InterGlobe Aviation, Ghosh was the group general counsel for InterGlobe Enterprises from 2004 to August 2008.
Airline's quarterly result
During the financial year 2015-16, the domestic carrier posted a 52 percent year-on-year rise in net profit to Rs. 1,989 crore. The domestic carrier reported a 7.4 percent fall in net profit to Rs. 591.7 crore for the June quarter of financial year 2016-17 (FY 2017) on account of competitive fare price in India's thriving airlines sector.
The firm's net profit in the corresponding quarter last fiscal was Rs. 638.80 crore. Last month, IndiGo maintained its lead as the largest carrier by market share at 39.8 percent.
The InterGlobe stock was trading at Rs. 885 at around 12.27 p.m. on Thursday, up 0.74 percent from its previous close on the Bombay Stock Exchange.