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Are IPL teams on a strong wicket financially?
IPL team players are raking in the moolah, even as the holding companies of the IPL teams struggle to make profits. A recent report in the Business Standard revealed the finances of these companies. Take a look at how the finances of these IPL owner team companies are.
Kolkata Knight Riders
According to the Business Standard report Knight Riders Sports Private, which won the last year's IPL trophy, emerges as the most successful franchise, with profit before tax at Rs 10.4 crore during the financial year ending March 31, 2012. The company made a loss of Rs 11.3 crore during the previous year.
Royal Challengers Bangalore
Royal Challengers Sports, which owns Royal Challengers Bangalore reported a loss before tax of Rs 9.5 crore during FY12, up from Rs 7.8 crore in FY11, according to the Business Standard report.
Pune Warriors
According to the Business Standard report Sahara Adventure Sports, which owns Pune Warriors IPL team, did not file accounting details for the financial year 2012, but reported a profit before tax of Rs 2.6 crore, with revenues at Rs 15.9 crore during FY11.
Rajasthan Royals
Jaipur IPL Cricket, the owner of Rajasthan Royals, also did not file accounting details for the financial year 2012 with MCA. However, it reported a profit of Rs 7 crore during the financial year ending March 31, 2011, Business Standard states.
Kings XI Punjab
Bollywood actress Preity Zinta co-owned K P H Dream Cricket reported a loss of Rs 1.5 crore during FY12, much lower than Rs 35 crore reported during FY11, according to Business Standard.
