Huddersfield's accounts for the year ending June 2018 show an operating profit of £23.2million after they survived their first season in the Premier League.
The Terriers' latest accounts, filed by Companies House on Wednesday, show the club reversed losses of £21.9m for the previous financial year when they won promotion from the Sky Bet Championship.
Turnover increased from £15.8m to £125.2m, mainly due to increases in television and Premier League revenues, which soared from £7.5m to £109.8m.
The club's profits were offset by increased wages, which went up by £41m from £21.7m to £62.6m.
Last summer the club added nine new players to their squad, including record signing Terence Kongolo, and two more in January this year, plus the loan signing of Jason Puncheon.
"Amortisation of player registrations also increased significantly to £17.1m (2017 – £2.7m), reflecting the significant investment in the playing squad following promotion," the club said in their accounts.
The club added that the amount they owed to owner Dean Hoyle remained "broadly flat" at £49.4million.
In September last year the club announced plans to invest £20m in their training complex at Canalside and these figures are not included in the accounts.
