Business

BCCI’s net profit more than DB Corp’s, GNFC’s

The Board for Control of Cricket in India (BCCI) is not only the richest cricket body in the world but had it been a listed company it would have outranked companies like DB Corp, CRISIL and GNFC in net profit.

According to the BCCI’s annual report for 2013-14, the board’s carried forward surplus (net profit for 2013-14) stood at Rs 324 crore, taking it to number 153 in the list of companies, excluding banks.

In terms of gross receipts (turnover), the governing body for cricket in India would have been at number 375 with Rs 2,286 crore, ahead of companies like Greenply Industries (Rs 2,250.11 crore), Bata India (Rs 2,215.28 crore and Essar Ports (Rs 2,214.88 crore) but behind names like Cox & Kings (Rs 2,350.66 crore) and Sun TV Network (Rs 2,310.23 crore).

The BCCI’s gross surplus or surplus after expenses (operating profit) stood at Rs 526 crore, which means had it been a listed company it would have occupied the 245th spot. In this case, the cricket body would have outdone companies like Siemens, Raymond and DB Corp.

The BCCI approved its annual report for the year 2013-14 during its annual general meeting held earlier this month. According to the report, the gross receipts by the board have increased slightly from the year before. While in 2013-14, the BCCI had Rs 2,286 crore in receipts from various media rights and events, it had received Rs 2,279 crore in 2012-13.

The biggest jump in revenues came from the the Indian Premier League. While in 2013-14 the board received Rs 1,194 crore from the annual twenty-twenty tournament, it had made a total of Rs 892 crore from it. This is mainly because the receipts from the IPL media rights income went up from Rs 556 crore to Rs 844 crore and the franchisee consideration went up marginally from Rs 460 crore to Rs 502 crore.

The rights income from the Champions League also increased from Rs 279 crore the previous year to Rs 327 crore in 2013-14, as did income from interest earned, which grew from Rs 85 crore in 2012-13 to Rs 120 crore in the year under consideration.

However, the board saw a dip in gross media rights income, which fell from Rs 774 crore in 2012-13 to Rs 419 crore in 2013-14, mainly due to fewer international matches at home. The annual gross receipts from international tours also were reduced to Rs 193 crore from Rs 216 crore in the year before.

The net effect of the receipts and expenditure is a gross surplus of Rs 526 crore in 2013-14, up from Rs 319 crore the year before. The surplus carried forward stands at Rs 364.28 crore, while for 2012-13 this amount was Rs 220.73 crore.

For the current financial year, the board said the budgeted surplus was Rs 391 crore.