CHANDIGARH, May 24 (PTI): IPL franchise Kings XI Punjab, which is on a roll with brilliant performances in the seventh season, has turned profitable as its owner KPH Dream Cricket has shown profit to the tune of Rs 78.01 lakh for the first time since the start of the extravaganza in 2008.
Co-owned by Bollywood actress Preity Zinta, KPH Dream has declared profit before tax amounting to Rs 78.01 lakh for the financial year 2012-13, as per financial documents including profit and loss account of the company filed with Registrars of Companies (RoC).
According to the shareholding pattern in the company, actress Preity Zinta and industrialist Ness Wadia have 23 per cent stake each while industrialist Mohit Burman has 46 per cent, Karan Paul, chairman of Apeejay-Surrendra Group and Delhi based company Root Investment have 4 per cent each.
In the financial year 2011-12, the cricket franchise had narrowed down its loss by 95 per cent to Rs 1.52 crore from loss of Rs 35.26 crore in 2010-11. The company had reported net loss of Rs 11.03 crore and Rs 21.55 crore in financial year 2009-10 and 2008-09 respectively.
Rs 40 crore prize money on offer
Mumbai, May 24 (PTI): The winners of this year�s Indian Premier League title would pocket Rs 15 crore while the losing finalists would take home Rs 10 crore, according to Cricket Board sources. In addition to the top two finishers, the two teams that fail to progress to the Bangalore final from the playoffs would be richer by Rs 7.5 crore each.
The playoffs commence on May 27 with the first qualifier between the top two teams after the round robin phase scheduled at Kolkata with the winners straightaway reaching the June 1 summit clash.