Chennai Super Kings Cricket Ltd reported a 131 per cent increase in the total revenue to Rs 676.40 crore for FY24 as against Rs 292.34 crore in the previous financial year
The Chennai Super Kings Cricket Ltd has reported a massive 340 per cent surge in net profit to Rs 229.20 crore in the financial year ended March 2024, compared to Rs 52 crore in the previous financial year, on the back of growth in revenue on account of the BCCI central rights and ticketing income.
During the FY24, the cricket entity reported a 131 per cent increase in the total revenue to Rs 676.40 crore as against Rs 292.34 crore in the previous financial year.
The 10th Annual General Meeting (AGM) of CSKCL will be held on Friday, September 27, 2024. KS Viswanathan will continue to lead the company as the resolution to approve his appointment as the managing director (MD) has been passed by the board.
The 17th Season of the Indian Premier League (IPL) commenced on March 22, 2024 and the matches were played from March to May 2024. “Your IPL Franchise Chennai Super Kings finished in the 5th place and narrowly missed qualifying for the Knockouts. Your team has been the most consistent IPL team and has won five IPL titles, appeared in 10 IPL finals and have qualified for the playoff stages 12 times,” the company said.
The company’s subsidiary Superking Ventures Pvt Ltd has expanded to nine centers in Tamil Nadu and two overseas centers. It commenced its operations during the Financial Year 2022-23 by starting cricket academies viz. “Super Kings Academy” in Chennai and Salem. SVPL plans to further expand its activities to various other geographies.
“The Super Kings Academy operates on company-owned/operated and franchise models. The academies catered to over 1100 students and 19 students (including girls) represented Tamil Nadu across different age groups. More than 70 students participated in the TNCA league. SVPL also manages commercial interests of some of the talented professionals in various sports activities including cricket,” according to the CSKCL annual report.
During the year under review, SVPL reported a turnover of Rs 5.47 crore, which is more than double that of Rs 2.56 crore in the previous financial year. The operating loss also narrowed to Rs 1.61 crore from Rs 6.34 crore in FY23.
In the unregulated market, CSK’s stock was trading at Rs 215, surging over 22 per cent in the last one year. The stock has jumped around 95 per cent in the last three years, according to Unlisted Zone, a platform for trading unlisted shares.