Chennai Super Kings Cricket Ltd (CSKCL) has delivered a stunning performance off the field, with its profit from the Indian Premier League (IPL) reaching impressive heights. The latest financial reports reveal that CSK’s earnings have soared, showcasing the team's remarkable success in the league.
It has reported an impressive 340% increase in net profit for the financial year ending March 2024, with figures soaring to Rs 229.20 crore compared to Rs 52 crore in the previous fiscal year.
The surge in profit has been attributed to a boost in revenue, thanks largely to BCCI's central rights and increased ticket sales.
The overall revenue for CSKCL grew by 131% to Rs 676.40 crore, up from Rs 292.34 crore in FY23.
KS Viswanathan, who continues as managing director of CSKCL following a board resolution, will preside over the company's 10th Annual General Meeting (AGM) scheduled for September 27, 2024. Under his leadership, CSK has remained one of the most successful franchises in IPL history.
According to the company’s statement, “Chennai Super Kings have been the most consistent IPL team, winning five IPL titles, appearing in 10 finals, and qualifying for the playoff stages 12 times.”
Despite this, the team narrowly missed qualifying for the knockout stages in the 17th IPL season, finishing in 5th place. However, the franchise remains focused on future growth, with expansion efforts underway through its subsidiary, Superking Ventures Pvt Ltd (SVPL).
SVPL has now grown to nine centers in Tamil Nadu and two international centers. Its cricket academies in Chennai and Salem have catered to over 1,100 students, 19 representing Tamil Nadu across various age groups.
"We are proud to have a strong development system in place that benefits not just the team, but the wider cricket community," the company noted.
SVPL's turnover more than doubled to Rs 5.47 crore in FY24, compared to Rs 2.56 crore in FY23, while its operating loss was reduced significantly from Rs 6.34 crore to Rs 1.61 crore.
The company continues to manage commercial interests for various sports professionals, with plans to expand the Super Kings Academy to new locations.
