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Azerenergy sees 47% decline in profit

02 May 2014 08:50 (UTC +04:00)

Baku. Musa Ahmadov – APA-Economics. Azerenergy JCS’s profit n 2014 declined 46.6% to AZN 84.589 mln, while it was AZN 158.55 mln in 2012.

Its pre-tax profit reached AZN 130.607 mln in 2013, up AZN 10.069 mln or 8.4% compared to a year earlier. However, the JCS transferred AZN 46,018 mln in 2013, up 8 mln from previous year.

Azerenergy also saw decline in its incomes. Though, the incomes from energy sale rose to AZN 717.176 mln, in general, they dropped to AZN 743.252 mln in 2013, while they made AZN 749.997 mln in 2012, while this index made AZN 716.319 mln in 2012. AZN 7.6 mln-decline on incomes from other sales caused reduction of incomes.

Its operation profit rose AZN 2.76 mln to AZN 92.11 mln, incomes from foreign currency exchange soared AZN 18.80 mln to AZN 47.431 mln.

Azerenergy’s assets increased by AZN 184,000 or 3.4% to AZN 5,518,911.

Long-term assets of the JSC made AZN 5,020,245 in 2013, they made AZN 4,892,151 in 2012.

Liabilities stood at AZN 3,317,331 in 2013 (AZN 3,314,231 in 2012).

Total capital rose AZN 181,000 or 9% to AZN 2,501,580. Authorized capital remained unchanged at AZN 1,760,495.