Sri Lanka Cricket Registers Record Net Profit of LKR 6.3 billion in 2022

Last Updated: February 25, 2023, 16:32 IST

Sri Lanka Cricket Logo (Twitter/@OfficialSLC)

Sri Lanka Cricket Logo (Twitter/@OfficialSLC)

It is a 3-fold year-on-year increase compared to the LKR 2.1 billion of net profits earned in 2021.

2022 turned out to be a landmark year for Sri Lanka Cricket as it earned a record profit of Rs 6.3 billion (Sri Lanka Currency) which is its highest annual net income ever. Sri Lanka hosted the likes of Australia and Sri Lanka last year during tough times when the nation was fighting against economic breakdown.

The LKR 6.3 billion meant it is a 3-fold year-on-year increase compared to the LKR 2.1 billion of net profits earned in 2021.

“The latest growth in net income was mainly generated from four revenue segments, which are international cricket, domestic cricket, sponsorship contracts, and ICC annual member disbursements,” SLC said in a statement.

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Sri Lanka also clinched the Asia Cup last year after outclassing Pakistan in the final. While they also beat India in the Super 4 stage to stage a massive upset a big stage.

SLC also revealed their investment breakdown in the statement and shared that it invested Rs. 4.2 billion on playing international cricket last year.

“During the year under reference, Sri Lanka Cricket invested Rs. 4.2 billion on playing international cricket, consisting of inbound and outbound tours of the national team, the “A” team, junior team tours, and the national women’s team tour expenses,” it stated.

While it invested a major chunk of money on domestic cricket to increase its level.

“Sri Lanka Cricket invested a sum of Rs. 2.27 billion on domestic cricket in 2022, which was utilized to play domestic tournaments, operate the high performance center, pay compensation for domestic players and officials, and also finance school cricket development,” SLC said in a statement.

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Sri Lanka Cricket also listed its CSR grants as they spent a huge amount of money on corporate social responsibility program, the health sector and others.

“Rs. 1.2 billion was invested in fulfilling Sri Lanka Cricket’s corporate social responsibility program, which consisted of a grant of over Rs. 900 million for the country’s health sector (including donations for the Apeksha Cancer Hospital and Lady Ridgeway Hospital) and over Rs. 278 million for the National Sports Fund, among other grants such as Rs. 25 million to renovate the Gangarama Rajamaha Viharaya in Kandy, etc,” SLC stated.

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