RELEGATION to League One saw Blackburn Rovers more than double their losses for the last financial year to £15.15million.

But auditors say the financial outlook for the Championship side is healthy, as Venkys remain committed to bankrolling the club.

Turnover for Venkys London, which holds a 99.99 per cent stake in Blackburn Rovers Football and Athletic Ltd, is down from £16.1million to £10.2million.

But the administrative expenses for Rovers was slimmed down from £34.07million to £25.92million, reducing the operating performance from losses of £17.95million to £15.75milllion year-on-year.

The figures have been revealed in the latest accounts report, submitted on behalf of directors Anuradha and Jitendra Desai and Venkatesh and Balaji Rao, for the year ending March 31.

Promotion back to the Championship has achieved the outfit's primary goal - but there is a warning that significant funds are still required from Venkys, above the anticipated income from the TV and other deals, to ensure future success.

The report states: "The focus of the company has been for the club to obtain promotion back to the Championship, whilst remaining compliant with Financial Fair Play (FFP).

READ MORE: Venky's share Tony MOwbray's long term vision for Rovers

"Further significant changes have been made to the playing squad to reduce ongoing costs, whilst at the same time reducing the average age of the playing squad, and increasing its potential resale value. As a result of the changes to the playing squad there has been a profit on disposal of £1million."

The average league attendance has also increased slightly, from 12,688 in 2016-17 to 12,832 in 2017-18, on the back of Tony Mowbray's success.

READ MORE: Tony Mowbray on the possibility of new deals

Auditors say the group is operating within its lending facilities, provided by the Bank of India, which are expected to be renewed in January 2019.

Elsewhere the report adds: "In view of this the directors have received confirmation from the ultimate parent company (Venkateshwara Hatcheries) that it has sufficient funds and is willing to provide such additional financing as may be required to fund the group to the extent necessary for the group to continue to trade and pays it liabilities when they become due."