Profit statements

Chennai Super Kings closes financial year 2022 with profit of INR 32.12 crore

In the financial year 2021, CSK made a net profit of INR 40.26 crore.

Chennai Super Kings. (Photo credit: IPL/BCCI)

Chennai Super Kings Cricket Limited, the owner company of the Indian Premier League (IPL) franchise, Chennai Super Kings (CSK), ended the last financial year 2022 with a profit of INR 32.12 crore on total revenue of 349 .14 ​​crore INR. In the financial year 2021, the company generated a total revenue of INR 253.69 crore with a net profit of INR 40.26 crore.

According to the company’s annual report, the company’s total revenue skyrocketed when it won the IPL title in 2021, and net profit fell due to higher expenses. The IPL 2021, which was initially held in India, was later moved to the United Arab Emirates (UAE) due to growing concerns over the Covid-19 pandemic situation in India.

In the last financial year, Chennai Super Kings Cricket Limited launched Tamil Nadu-based Superking Ventures Private Limited (SVPL). CSK previously won the IPL titles in 2010, 2011, 2018 and 2021, and are second only to Mumbai Indians (MI), winning the trophy four times. CSK, after winning the 2021 IPL, had a tough season in 2022, finishing ninth in the table with just four wins from 14 games.

Punjab Kings part ways with Anil Kumble after three years

Meanwhile, IPL franchise Punjab Kings (PBKS) parted ways with head coach Anil Kumble after three years as they decided not to renew his three-year contract. The likes of Eoin Morgan and Trevor Bayliss have reportedly been approached for the role. The franchise is expected to announce Kumble’s replacement within a week.

PBKS failed to make the play-offs in those three seasons, and there were also allegations that the team knocked out their captain Mayank Agarwal. However, PBKS denied such complaints with a social media post. “Reports published by a certain sports news website regarding the Punjab Kings franchise captaincy have been doing the rounds in recent days. We would like to clarify that no team manager has released any statement about this,” the official PBKS manager wrote on Twitter on August 24, Wednesday.