Uzbek company's net profit decreases in Jan.-Sept.
Tashkent, Uzbekistan, Nov. 18
By Demir Azizov– Trend:
Uznefteproduct JSC obtained net profit in the amount of 273.853 billion soums (official exchange rate on Nov. 18 is 3138.95 soums/$ 1) in January-September 2016, which is 25.1 percent less than in the same period of 2015, said the company’s report published on http://openinfo.uz/en/ , a single portal of corporate information of Uzbekistan.
Uznefteproduct is a subsidiary of Uzbekneftegaz National Holding Company, specializing in processing of hydrocarbon raw materials and producing of oil products.
The report said that the net proceeds from the sale of products stood at 4.5 trillion soums (9.6 percent increase), the gross profit from the sale of products totaled 1.097 trillion soums (1.5 percent increase), profit from the main activity – 557.372 billion soums (16.8 percent decrease).
The prime cost of the sold products was 3.411 trillion soums (12.5 percent increase).
Accounts receivable for the reporting period increased by 12 percent up to 1.483 trillion soums.
Uznefteproduct’s net income, calculated according to the International Financial Reporting Standards (IFRS) decreased twofold up to 388.013 billion soums in 2015 compared to 2014.
The company consists of three oil refineries, namely, Ferghana, Bukhara and Altiarik refineries.
Ferghana and Altiarik plants, producing fuel-oil products, have a processing capacity of 5.5 million tons and 3.2 million tons of oil per year, respectively. Bukhara refinery produces high-quality types of gasoline, jet fuel and diesel fuel. The processing capacity is 2.5 million tons of gas condensate per year.