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SBD Global/January 23, 2014/Finance

Board Of Control For Cricket In India Doubles Profit From Indian Premier League

The Indian cricket board "has nearly doubled its profits from the cash rich Indian Premier League's sixth edition held in 2013 compared to its profit from the fifth edition in 2012," according to the PTI. The Board of Control for Cricket in India finance committee met Wednesday in Chennai "to intimate the members about various financial aspects during the current financial year." Sources said that the BCCI's profit from IPL 6 has been a whopping Rs 385.36 crore ($62.3M) compared to profits amounting to Rs 174.73 crore in '12. A finance committee member said, "The BCCI's profit has increased by Rs 210 crore approximately from IPL according to audited accounts. Also it has been noted that the affiliated units got something in the tune of Rs 32 crore during last year." The BCCI "has a tax burden" of Rs 550 crore ($89M) as tax exemptions on cricket "has been withdrawn." The board "has appealed for a waiver in various tribunals and is awaiting the verdict" (PTI, 1/22).
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