SLC’s profit hits record high in 2022 with income of over Rs. 6 billion
February 23, 2023 09:33 pm
Sri Lanka Cricket (SLC) recorded a net profit of Rs. 6.3 billion for the year 2022, making this the highest annual net income earned by the institution in its entire history.
This record marks a 3-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, namely, international cricket, domestic cricket, sponsorship contracts, and ICC annual member disbursements.
Pertaining to investments made for international cricket, SLC invested a total of Rs. 4.2 billion in 2022 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.
Meanwhile, a sum of Rs. 2.27 billion was invested 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, while stadium management and administration grants for district and provincial associations, and member clubs totaled Rs. 599 million.
When taking into SLC’s Corporate Social Responsibility (CSR) programme, the institution invested Rs. 1.2 billion, including 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.
