Chennai Super Kings posts Rs 32.12 crore profit for FY22

Chennai, Aug 26 (IANS) Chennai Super Kings Cricket Ltd, that owns the Chennai Super Kings Indian Premier League (IPL) team, closed last fiscal with a profit of Rs.32.12 crore on a revenue of Rs 349.14 crore.During FY21, the company had earned a total income of Rs 253.69 crore and a net profit of Rs 40.26 crore.As per the company's annual report, the company's total income went up as the CSK won the IPL title while the net profit came down owing to higher expenses.The IPL Season XIV that was held in India was cancelled midway in 2021 due to Covid spread and the tournament was shifted to United Arab Emirates (UAE) later resulting in higher expenditure, the company said.Last fiscal, Chennai Super Kings Cricket Ltd floated a wholly-owned subsidiary Superking Ventures Private Ltd (SVPL).
--IANS vj/vd

(Disclaimer: This post has been auto published from IANS news agency without any modification to the text and has not been reviewed by editor)