Azerbaijan Railways’ capital increased by more than 20%

Photo: Azerbaijan Railways’ capital increased by more than 20% / Economy news

Baku, Azerbaijan, May 26
By Emil Ismayilov - Trend:

The authorized capital of Azerbaijan Railways increased by 21.2 percent - from 599,000,000 to 726,146,366 manat upon a decree of the Azerbaijani Cabinet of Ministers.

The number of ordinary shares worth two manat each increased, respectively, from 299,500,000 to 363,073,183 units, according to the text of the Cabinet of Ministers' decree, published on May 26 in the official press.

Azerbaijan Railways' revenues amounted to 223.1 million manat in 2013. The company's revenues last year were generated through freight (208.2 million manat) and passenger (14.9 million manat) transportation.

A total amount of the company's expenditures in 2013 reached 214 million manat, of which 73.3 million manats were directed to the payment of salaries of employees, 53.1 million manat - to purchase goods and materials, 38.7 million manat - to pay for the used electricity, fuel and water, 15.3 million manat - payment to the Social Protection Fund, 4.1 million manat - to the state budget in the form of tax payments.

Thus, the company's net profit last year was nine million manat.

In total, the company transported 23.2 million tons of cargo and 2.5 million passengers in 2013.

The official exchange rate is 0.7843 AZN/USD on May 26.

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