Leicester have announced a pre-tax profit of £16.4million for the year ending May 31, 2016.
The club's turnover increased by more than £24million from the previous financial year, mainly due to the prize money from landing the 2015/16 Premier League title. They had finished 14th in 2014/15.
Increased domestic television revenue and an upward swing in attendance also contributed to the rise in turnover.
Chief executive Susan Whelan said: 'Our long-term commitment to financial sustainability includes regular reinvestment back into the club, keeping it competitive as we bid to bring continued success to its growing supporter-base and the community that has supported it for over a century.