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Report timeout issue in salesforce?

When running certain large reports,  the report will often time out after a period of time, giving a "Time limit exceeded" error .

Few points about report as below:
1. fields used is around 140 in the reports
2. there is a Formula field used that is used in the reports this the one which is making my report to "Timeout" ?
if yes, can any one please help me with the possible solution on how to make my report run fast ....... 
The functionality/business requirement  we used in the Formula field which is used in the report filters is needed .... So, the functionality should not be disturbed and the report should run fast .

This action helps me alot...
Thanks in Advance!!

ShirishaShirisha (Salesforce Developers) 
Hi Chinna,


You can use the custom indexes or skinny tables to load the report faster.So,I would suggest you to avoid using negative filters something like "not equalts to null" or "equalts to null" to make the query selective.

Please let me know,if you have any other concerns.

Kindly let me know if it helps you and close your query by marking it as solved so that it can help others in the future. It will help to keep this community clean.

Warm regards, 
Shirisha Pathuri