Gafgaz Leasing gets rise in Q1 profit

Gafgaz Leasing gets rise in Q1 profit
# 06 April 2011 13:54 (UTC +04:00)
Baku. Elnur Huseynguluyev – APA-Economics. As of April 1, 2011, Azerbaijan-based Gafgaz Leasing’s leasing portfolio stood at AZN 10.398 mln, up 69% in comparison to a year ago.

Company says the leasing contracts rose 2.1 times to 823, cost of leased equipments soared 4.2 times to AZN 2.361 mln.

At the same time, company has invested AZN 0.242 mlnm during the same period, down 4.1 times. Authorized capital surged 91% to AZN 2 mln.

Note that, income climbed 74% to AZN 0.664 mln, expenditure advanced 25.3% to AZN 0.361 mln. As a result, the profit gained increased by 3.2 times to AZN 0.242 mln.

Remind that, Gafgaz Leasing Company has been in operation since 2007.
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