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India Cements gets Rs 680 mn revenue from IPL biz
#1
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Mumbai: India Cements, the owner of team franchise Chennai Super Kings, has got a revenue of Rs 680 million from its Indian Premier League (IPL) business in FY'09.

The operating margin was at Rs 171.4 million, up from Rs 76.5 milliion a year ago.

"We got Rs 130 million in the fourth quarter and the full-fiscal revenue stood at Rs 680 million from the IPL," a source in the company says.

For India Cements, the IPL business has been profitable from the first season itself. "Since the Champions League T20 was cancelled, BCCI compensated us. This Rs 120 million that we received turned us cash positive in the augural edition of the IPL," the source adds.

The second season of IPL will give Chennai Super Kings (CSK) a sponsorship revenue of Rs 230 million, up from Rs 170 million. CSK had lined up a bevy of 13 sponsors for the second edition including Pepsi’s two brands 7Up and Lays, Aircel, Reebok, Peter England, Nivea, Wrigley’s, Johnson & Johnson, Big Bazaar, Camlin, Cloud9, NowPow (Hyderabad-based mobile Vas compay), Fosters and makemytrip.

CSK expects to get Rs 460 million from the central pool, as against Rs 300 million in the first season. "With the tournament shifting to South Africa, we had additional expenses and are not yet clear how much BCCI is going to absorb. Since the telecast contract was also upped, our central pool revenues would go up. Om the whole, we expect to be profitable even this year," the source says.

India Cements has no plans to demerge its IPL property and dilute equity in the venture.

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#2
Ya,chennai super king is popular ipl team,its gud for india cement
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