Net profit of Azerishiq decreases 4 times

Azerishiq OJSC ended 2023 with a net profit of AZN14,7m or $8.7 m which is 3.8 times more than in 2022, Azernews reports.

Last year, the income of the joint-stock company from the sale of electricity was AZN1.6bn or $ 0.94bn ( 5.1 % more than the previous year), the cost of its sale was AZN1.4bn or $0.82bn ( 4.6 % more), distribution costs were AZ58.6 m or $34.5m ( 7.4 % more). more), administrative expenses AZN107m or $63m ( 16.6 % more), impairment losses on trade receivables AZN13,5m or $7.5m (previous year's income), other incomes AZN67,000 or $44,710 ( 19.65% more), other expenses AZN3.15m or $1.9m ( 51.3% less ), net financial expenses were AZN25,6m or $15.1m ( 2.5 times more), and profit tax payments were AZN16,8m or $9.9m ( 2.2 times more).

As of January 1 of this year, the assets of Azerishiq amounted to AZN3.2bn or $1.9bn, which is 11.05 % more than the year. During the reporting period, the liabilities of the joint-stock company increased by 10.3% to AZN768m or $452m, and the balance capital increased by 11.3 % to AZN2.5bn or $1.5bn.