Founders of 28 Indian New-Age Startups Earn Rs 284 Crore in FY24
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New Delhi, Dec 22 (NationPress) A total of 51 founders from 28 innovative startup enterprises in India received Rs 283.5 crore as their annual compensation in FY24.
As per the Inc42 report, The average salary of startup founders in India saw a decrease of 26.9 percent year-on-year (YoY), dropping to Rs 5.55 crore in FY24 from Rs 7.6 crore in FY23.
These startups span various sectors.
Among these enterprises, Supam Maheshwari, the founder of e-commerce platform FirstCry, earned the highest salary, totaling Rs 103.8 crore in FY24. However, this is approximately 50 percent lower than the Rs 200.7 crore he earned in FY23.
FirstCry reported an operating income of Rs 6,480 crore in FY24, while incurring a loss of Rs 321.5 crore during the same period.
Following him, Zerodha founders Nikhil and Nithin Kamath were second on the list for FY24, each receiving an annual salary of Rs 33.8 crore, down from Rs 48 crore in FY23.
Zerodha's operating income in FY24 stood at Rs 9,372.1 crore, with a profit of Rs 5,496.3 crore during this period.
Aneesh Reddy, founder of Capillary Technologies, ranked third, earning Rs 13.3 crore in FY24, which marks an increase of 1,480 percent from the Rs 84 lakh he made in FY23.
Bhanu Chopra, founder of hotel software company RateGain, earned Rs 5.8 crore in FY24, a slight decrease from Rs 6.1 crore in FY23.
RateGain's operating income grew by 69 percent to Rs 957 crore in FY24, with the company achieving a profit of Rs 146.3 crore during this timeframe.
Paytm's MD and CEO, Vijay Shekhar Sharma, ranked fifth, earning an annual salary of Rs 4.4 crore in FY24, reflecting a 10 percent increase from Rs 4 crore in FY23.
Varun Alagh, CEO of Mamaearth, saw his annual salary rise to Rs 3.97 crore in FY24, which is a 166.9 percent increase from Rs 1.49 crore in FY23.
Additionally, his wife and co-founder received Rs 1.79 crore in FY24, an increase of 80.8 percent from Rs 99 lakh in FY23.
Mamaearth's operating income for FY24 reached Rs 1,919.9 crore, with a profit of Rs 110.5 crore during this period.
