Johannesburg, Aug 30 - The Indian Premier League II (IPL) hosted in South Africa earlier this year helped Cricket South Africa (CSA) record a turnaround of over 80 million rands (1 rand=US 13 cents) for the 2008-09 season after budgeting for a loss of 75.9 million rands.

CSA treasurer Hentie van Wyk announced at the national cricket authority's annual general meeting here Saturday that the 5.3 million rands operating profit came as a result of stronger negotiations, bigger broadcast deals, increased sponsorships and CSA's successful hosting of international tournaments, including the IPL.

'This favourable variance to budget is mainly due to interest received on increased cash balances, fee income related to the Champions League, IPL related income, increased sponsorship and international broadcast revenue. In many aspects, our positive financial results reflect the benefits to cricket of improved structures, expertise and management at all levels,' van Wyk explained.

'It is critical that all new cricket funding is able to be maintained in future years and the four year view supports this approach.