Sanjiv Mehta, managing director and chief executive officer of Hindustan Unilever Ltd (HUL) received 36 per cent hike for the financial year 2017-2018. To put this in perspective, he took home salary of Rs 19 crore against the figure of Rs 14 crore in the previous year. The bonus amount of Mehta also got tripled to Rs 6 crore from the previous year figure of Rs 2 crore.
The average increase for employees, other than managerial positions, was 9 per cent. Mehta has managed to deliver good results despite initial hiccups felt due to the implementation of Goods and Services Tax (GST).
Hindustan Unilever posted 14 per cent rise in its net profit at Rs 1,351 crore in its fourth quarter. The company had posted a net profit of Rs 1,183 crore in the corresponding period of the previous fiscal. Net sales during the quarter under review stood at Rs 9003 crore as against Rs 8,773 crore a year ago, up 2.62 per cent.
“The board recommended a final dividend of Rs 12 for the financial year (till March 31) on equity shares of Re 1 each. The company had earlier paid an interim dividend of Rs 8 per share on November 14, last year,” HUL said in a filing to the stock exchanges.