Cardiff City made a profit of £3.8m in their first season after relegation to the Championship, the year ending May 2015, according to the club’s latest accounts.
This follows a loss of £12m in the previous financial year during their debut Premier League campaign and £30m in 2013-14, when they won promotion.
Owner Vincent Tan has said he is ready to halve Cardiff’s £140m debt which gives the club an extra boost as they strive towards promotion.
In 2014-15, Cardiff reduced their annual player wage bill by more than £8m, down to £30.8m from £38.9m the previous year.
The clubs latest accounts also indicate that the club spent just over £3m relating to “employment termination costs and payments to other football clubs in compensation for the release of employee’s contracts.”