Chennai Super Kings close fiscal year 2022 with profit of INR 32.12 crore

Chennai Super Kings Cricket Limited, the company that owns the Indian Premier League (IPL) franchise, Chennai Super Kings (CSK), ended the last fiscal year 2022 with a profit of INR 32.12 crore on total revenue of INR 349.14 crore. In the fiscal year 2021, the company generated a total income 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 income shot up as it won the IPL title in 2021, and the net profit slumped due to higher expenses. The IPL 2021, which was initially held in India, was later moved to the United Arab Emirates (UAE) due to the growing concerns pertaining to the Covid-19 pandemic situation in India. 

In the last fiscal year, Chennai Super Kings Cricket Limited floated the Tamil Nadu-based company Superking Ventures Private Limited (SVPL). CSK previously won the IPL titles in 2010, 2011, 2018, and 2021, and stand 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 on the table with only four wins in 14 games.

Punjab Kings part ways with Anil Kumble after three years

Meanwhile, IPL franchise Punjab Kings (PBKS) have 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 been reportedly approached for the role. The franchise is expected to announce Kumble’s replacement in a week’s time.

PBKS failed to make the play-offs during these three seasons, and there have also been claims of the side axing their captain Mayank Agarwal. However, PBKS denied any such claims with a social media post. “News reports published by a certain sports News website pertaining to captaincy of the Punjab Kings franchise has been making the rounds in the last few days. We would like to state that no official of the team has issued any statement on the same,” the official handle of PBKS wrote on Twitter on August 24, Wednesday.