Kazakh railways receive almost $264 million net loss in Jan. –March
Baku, Azerbaijan, June 10
By Elena Kosolapova- Trend:
Kazakhstan Temir Zholy (Kazakh Railways) received $48.4 billion tenge (183.51 tenge = $1) net loss in January-March 2014 compared to 30.2 billion tenge net profit in the same period of 2013, Novosti-Kazakhstan reported with the reference to the company's consolidated financial statement under International Financial Reporting Standards (IFRS).
The company's revenue increased 0.1 percent to 200.3 billion tenge in the reporting period. Gross profit decreased 19 percent to 53.8 billion tenge.
Kazakhstan Temir Zholy's assets increased 0.4 percent to 2.498 trillion tenge in the first quarter of 2014, equity decreased 3.6 percent to 1.282 trillion tenge. Company's obligations increased 5 percent to 1.216 trillion tenge in the reporting period.
Kazakh Railways is 100-percent state-owned company. The sole shareholder of the company is Kazakh National Wealth Fund Samruk-Kazyna.