Azerbaijan’s Xalq Kapital company significantly increases profit

Finance Materials 29 August 2019 10:26 (UTC +04:00)

Baku, Azerbaijan, Aug. 29

By Eldar Janashvili – Trend:

Azerbaijani investment company Xalq Kapital ended 2018 with a net profit of 147,000 manats, while 2017 was completed with a profit of 31,000 manats, Trend reports referring to the organization’s audit report.

According to the audit report, over the year, the organization’s profit grew 4.7 times. The company's total income, including interest income, amounted to 235,200 manats, having increased by 3.4 times over the year. About 81 percent of income was made by commission income from transactions at 191,000 manats (increase of 3.2 times over the year).

Operating expenses amounted to 57,200 manats (increase of 2.8 times). Of these, slightly more than half accounted for personnel costs, which increased five times and amounted to 29,000 manats. General and administrative expenses amounted to 27,600 manats (growth by 1.8 times). Depreciation of intangible assets doubled and amounted to 600 manats.

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