Corporate Sep 28, 2012
The Board of Control for Cricket in India (BCCI), the richest cricket board in the world, has beat its own expectations for 2011-12 and registered a whopping 101.53 percent jump in its net profit for 2011-12 to Rs 382 crore from Rs 189.72 a year earlier primarily because of proceeds from cash-rich IPL and media rights.
The organisation had previously projected a profit of Rs 296.31 crore and gross income of Rs 1043.11 crore for the year 2011-12
The income from the Indian Premier League show a colossal raise of Rs 146.38 crore over the previous year. The BCCI earned Rs 265.14 crore from fourth edition of the IPL in 2011 while it garnered Rs 118.76 crore in 2010. This is a whopping 123.26% jump!
A report in the Business Standard says the main reason behind it was the franchisee fee from two new teams, Kochi and Pune, and the total number of matches being increased to 74 from 59 in the earlier editions.
The fifth edition of IPL concluded on May 2012, hence the income generated from that edition will be reflected in next year's report.
However, going by the latest edition, IPL seems to have lost its sheen with plunging television ratings and half-filled cricket stadiums. Even sponsors Tata Motors and Godrej have pulled out, while DLF has decided against renewing its sponsorship contract. And after the failed auction for cash-strapped Deccan Chargers, nearly all IPL teams have witnessed a loss in valuation.
Media rights, however, remained the highest source of income for BCCI as the organisationearned Rs 437.75 crore through media rights in 2011-12.In comparison, the BCCI had earned Rs 388.56 crore from media rights in 2010-11.
Interestingly, if BCCI had been listed on the bourses, its rank in terms of turnover would be 711, just below VIP Industries and Future Capital, the BS story observed, adding that the cricket body's per day revenue is close to Rs 2.33 crore!
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