Chennai, Sept 6: The Chennai Super Kings Cricket Ltd (CSKCL) has reported a stupendous 340 per cent surge in net profit to Rs 229 crore in FY24 from Rs 52 crore in the previous year, thanks to the increase in revenues on account of the BCCI central rights and ticketing income.
The 10th Annual General Meeting of CSKCL will be held on Friday, 27th September, 2024. KS Viswanathan, aged 71 years, will continue to lead Chennai Super Kings Ltd as the resolution to approve his appointment as the MD for a three-year period has been passed by the Board.
As per the annual report of the cricket entity, the Season XVII of the Indian Premier League (IPL) commenced on March 22, 2024 and the matches were played till May 2024, where the IPL Franchise Chennai Super Kings finished in the fifth place and missed qualifying for the knockouts. āYour 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,ā it said.
During the year under review, its turnover was Rs 67,640.25 lakh compared to Rs 29,234.36 lakh in the previous year. āThe growth in total revenue for the year 2023-24 compared with the previous year was mainly due to increase in revenues on account of the BCCI central rights and ticketing income. Consequently, the Profit After Tax increased to Rs 22,910.70 lakh as against Rs 5,217.44 Lakh in the previous year,ā the report said.
During the year, the paid up equity share capital of the Company increased from Rs 3.08 crores to Rs 3.79 crore consequent to allotment of 7,12,71,930 Equity shares of Rs 0.10 each fully paid-up upon conversion of 650 Optionally Convertible Debentures of Rs 10,00,000/- each, as per the terms approved by the shareholders.