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SOCAR's profit exceeds 655 mln manat in 2010

Oil&Gas Materials 30 July 2011 13:37

Azerbaijan, Baku, July 30 / Trend /

In 2010 net profit of the State Oil Company of Azerbaijan (SOCAR) hit 655.74 million manat compared to 893.58 million manat in 2009, SOCAR 2010 financial report published on its website on Friday says.

The company's profit totaled about 5.53 billion manat in 2010 compared to about 4.2 billion manat in 2009. About 3.3 billion manat of SOCAR revenues accounted for cost prices of sales in 2010 compared to about 2.08 billion manat in 2009.

Accordingly, SOCAR's current profit in 2010 amounted to over 2.23 billion manat compared to about 2.12 billion manat in 2009. The company's income on operation activity during the reporting period amounted to over 1.33 billion manat compared to about 1.43 billion manat in previous year.

SOCAR profit before taxes amounted to about 1.24 billion manat compared to about 1.37 billion manat in 2009.

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