BCCI made Rs 111.83 crore surplus during last fiscal

The Board Of Control for Cricket in India (BCCI) made a surplus of Rs 111.83 crore in the last fiscal year. However, it was Rs 55 crore less than what they made in the previous year, according to Treasurer Anirudh Chaudhry.

“In the year under consideration, the surplus of income over expenditure was Rs 111.83 crore as against Rs 166.87 crore in the earlier year,” stated Chaudhry in his annual report for 2015-16.

He explained that the dip in the last fiscal was due to the distribution of additional amount due to associations, additional payments to players and mainly because of the absence of Champions League T20 Tournament which was scrapped after the first six editions.

“The drop in surplus was mainly due to the distribution of additional amount due to associations, additional payments to players and absence of income from Champions League T20 Tournament and in spite of the increase in total income as compared to previous year,” he stated.

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In the current fiscal (2016-17), the budgeted surplus was estimated to be at Rs 509.13 crore, according to the BCCI treasurer. He also pointed out that the expenses on cricketing operations rose from Rs 311.21 crore to Rs 370.04 crore and the provision for gross revenue share payable to the players increased from Rs 10.47 crore to Rs 56.35 crore due to the increase in gross revenue income.

BCCI had also paid Rs 1607.58 crore (net of payment made to foreign boards) as a compensation for the termination of rights agreement following the discontinuation of CLT20.

Due to the increase in a number of matches played in India, gross media rights income from BCCI’s international fixtures also increased from Rs 388.80 crore last year to Rs 648 crore. Interest income on bank deposits held by BCCI rose from Rs 85.94 crore to Rs 175.48 crore during the year.

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“The receipts in the financial year are substantially high due to the receipt from CLT rights holders towards compensation for termination of the CLT-20 Tournament,” Chaudhry stated.

“Further, on account of the efficiency of operations and better interest rates negotiated by the office, the interest yields were the best in spite of the fall of interest rates and being conscious of the necessity of keeping the risk element to the lowest,” he added.

“The BCCI has also increased infrastructure subsidy to its affiliated units from Rs 50 crore to Rs 60 crore”, he signed-off.