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Sun TV's Kalanithi Maran and wife highest paid in media at Rs 78 cr each

Maran also received a dividend of Rs 296 cr in 2016-17

T E Narasimhan  |  Chennai 

Kalanithi Maran

The of media tycoon Maran and his wife Kavery has risen to Rs 78 crore each in 2016-17, marking an increase of around 10 per cent over salaries drawn during 2015-16. This makes them highest paid executives in the and among the top in India Inc overall. The increase in was mainly due to an increase in ex-gratia/ bonus, while the level continues to remain the same. Maran also got a of Rs 295.56 crore.

According to company's 2016-17 annual report, Maran and his wife draw Rs 13.14 crore each- the same as last year. Meanwhile, MD and CEO K Vijaykumar drew a of Rs 0.97 crore in 2016-17, as against Rs 0.82 crore last year.

Maran and his wife's ex-gratia/earnings rose to Rs 64.79 crore each from Rs 58.33 crore, a year ago.

The annual for India's richest man, Mukesh Ambani, remained at Rs 15 crore for the ninth consecutive year in 2016-2017. According to reports, this includes a of Rs 4.16 crore; Rs 60 lakh in perquisites and allowances, Rs 71 lakh towards retirement benefits and Rs 9.53 crore as commission on profit.

Maran, who founded the Group, started his business in 1993 and currently holds 75 per cent of the firm's share in the company. During the year, he received a of Rs 295.56 crore. While in the preceding years of 2015-16 and 2014-15, Maran earned a of Rs 458.12 crore and Rs 399.02 crore respectively.

Total Income of the company for FY17 was up by 8.03 per cent at Rs 2,703.80 crore, as against Rs. 2,502.75 crore during the previous financial year. Sustained growth and consistent higher margins are indicative of the company's continued dominance in the broadcasting business in the Southern states.

As per the terms of the franchise agreement entered into by the firm with the BCCI, the Network has a commitment to pay Rs 85.05 crore per annum to the cricket regulating body. During 2016-17, the media firm paid an aggregate amount of Rs 25.52 crore as franchise license fee for the broadcast of the 2017 IPL season.

Profit after tax (PAT) was up by 12.62 per cent at Rs 979.41crore, as against Rs 869.69 crore in the preceding year. Total comprehensive income was up by 12.50 per cent at Rs 978.43 crore, as against Rs. 869.76 crores in the year-ago period.

First Published: Thu, August 31 2017. 18:58 IST
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