Kings XI Punjab lost Rs 250 mn in first year

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Old 08-May-2010
Kings XI Punjab lost Rs 250 mn in first year

MUMBAI: The Kings XI Punjab Indian Premier League (IPL) franchise has informed the government that it lost Rs 250 million in the first year. The BCCI is conducting an inquiry into the shareholding pattern of the franchise.

In the financial statements submitted to the Registrar of Companies (RoC), KPH Dreams Cricket says that total income in 2008-09 was Rs 550 million while the total expenditure stood at close to Rs 800 million.
Kings XI Punjab expects to break even by March 2011. Preity Zinta and Ness Wadia hold 23 per cent stake each in the franchise, while Apeejay-Surrendra Group chairman Karan Paul has a four per cent equity. The balance 50 per cent is with MB Finmart and Windy Investments.

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