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Sri Lanka cricket reaps record profits despite shocker year

AFP  |  Colombo 

Sri Lanka's board today announced a profit of USD 14 million last year, far above all previous records despite one of the worst on-field performances by the islanders in years.

The board said it made a net profit of 2.12 billion rupees ($14 million) in 2017 -- a staggering 33 times what it made the year before.

Revenues, at six billion rupees, were roughly double 2016 figures, said in a statement.

"This was a result of SLC's strategic growth plans and prudent financial management," the board said in a statement.

The board did not elaborate on its dramatic turnaround.

But sources attributed the sharp rise in profits to a packed 2017 calendar which featured home series against Bangladesh, and

Earnings from the broadcasting of the Indian tour were thought to be a major contributor to the coffers, but would not comment.

The record-breaking profits were the only good from an otherwise woeful spell for cricket, with the islanders enduring their worst year on the pitch since winning in 1996.

They suffered a full series defeat against and humiliatingly lost a home one-day series to bottom-ranked

They also bowed out early from in June last year.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, May 16 2018. 19:05 IST