Baku, Azerbaijan, June 1
By Kheyraddin Nasirzade – Trend:
Azerbaijan’s Ganja Instrument-Making Plant OJSC had a net profit of 1.64 million manats by the end of 2018, which is 40.4 percent less than the previous year, Trend reports referring to an audit report conducted by the Khazar Audit LLC audit company.
The plant's revenues amounted to 12.7 million manats during the reporting period. After deducting the cost of sales of 10.6 million manats, the total profit amounted to 2.1 million manats.
The net profit of the plant was formed after deducting administrative expenses of 46,700 manats, operating expenses of 6,900 manats and income tax of 410,900 manats.
The total assets of the plant for past year decreased by 5.9 percent (compared to the figure of 2017), reaching 8.27 million manats. In the structure of assets, fixed assets in the form of land, buildings and equipment amounted to 1.49 million manats, which is 24 percent more than in 2017. Intangible assets amounted to 1,100 manats.
The volume of stocks of finished products was increased over the year by 38.3 percent to 5.03 million manats. Short-term receivables decreased by 6.9 percent to 791.1 million manats. The volume of cash and cash equivalents decreased 5.9 times to 402,100 manats. Other short-term assets decreased by 23.1 percent, reaching 546,800 manats.
Total liabilities decreased by 27.2 percent over the year, reaching 1.61 million manats. In the structure of liabilities, short-term payables decreased by 1.3 percent to 1.57 million manats. Other short-term liabilities and tax debts amounted to about 36,800 manats.
The total capital of the plant for last year increased by 1.2 percent, reaching 6.66 million manats. The authorized capital amounted to 211,900 manats. Capital reserves amounted to 1.29 million manats. Retained earnings amounted to 5.16 million manats.