SLC makes record net profit of Rs. 6.3 b for 2022

Friday, 24 February 2023 00:35 - - {{hitsCtrl.values.hits}}

Sri Lanka Cricket made a net profit of Rs. 6.3 billion during the year 2022, recording the highest annual net income earned by the institution in its entire history.

This record marks a three-fold year-on-year increase compared to the Rs. 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.

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.

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

In development stadium management and administration grants for district and provincial associations, and member clubs totalled Rs. 599 million during the year under reference.

On CSR Grants 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.