Mumbai/Chennai: Naveen Jindal, the youngest scion of the O.P. Jindal Group, continues to be highest paid executive in India for the third consecutive year, with a compensation of 73.4 crore in fiscal 2011-2012.

Although the net profit of Jindal Steel and Power Ltd, the group’s flagship firm, saw a steep drop of 44% to 2,110.65 crore in the fiscal year ended March, Jindal’s salary rose 9% in FY 2012 over the previous year.

Media baron Kalanithi Maran and his wife Kaveri Kalanithi held the second and third places with a pay of 57 crore each, even after taking a cut of 11%, though Sun TV Network, the flagship company of the Sun group, saw its profit fall by 9.76% to 694.65 crore in 2011-12, according to a Mint analysis of data from Capitaline, a provider of financial and corporate information.

Mukesh Ambani, chairman of Reliance Industries Ltd, who topped the list in 2007-08, was pushed to the 18th position as his remuneration totalled 15 crore in 2011-12, with no pay raise over the previous financial year.

Hero MotoCorp’s profit rose 23% to 2,378.13 crore in the year.

Sunil Kant Munjal, joint managing director of the firm, saw the highest jump in salary to 21 crore, up by 211%, and next only to D.K. Jain, chairman of Gujarat Fluorochemicals Ltd, who was placed 25th as his salary increased 250% to 13 crore.

In 2011-12, four southern India-based entrepreneurs were among the seven highest paid executives. Madras Cements Ltd chairman and managing director P.R. Ramasubrahmaneya Rajha made it among the top 10 list earning 29.34 crore, up by 88% from the previous year. He was followed by BGR Energy Systems Ltd’s chairman B. G. Raghupathy, who earned 26 crore.

Sunil Mittal, chairman of Bharti Airtel Ltd, slipped to the 10th position as his remuneration fell by 23% to 21.29 crore in 2011-12, down from the fourth position in the preceding year. Reliance Group’s Anil Ambani doesn’t figure in the list of top 100 highest paid executives in India.

Kumar Mangalam Birla of UltraTech Cement Ltd and Hindalco Industries Ltd took home a higher package of 22.5 crore (up 72%) than Debnarayan Bhattacharya, managing director of Hindalco Industries, who earned 19.4 crore.

The highest salary as a percentage of company profits went to Pawan Kumar Ruia, chairman of Falcon Tyres Ltd, as his remuneration was 6 crore while the company made a profit of 29 crore. Hital R. Meswani and Nikhil Meswani, directors at Reliance Industries, took home the least at 11 crore each as the energy company reported 20,040 crore net profit in FY 2011-12.

Pankaj R. Patel, chairman of Cadila Healthcare Ltd, took the deepest pay cut among the executives in the list, as his salary went down by half to 12 crore in 2011-12.

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