Gross profit of Azerbaijani online payment provider up by over 25%

Finance Materials 30 August 2019 12:05 (UTC +04:00)

Baku, Azerbaijan, Aug. 30

By Eldar Janashvili - Trend:

Azerbaijani online payment provider GoldenPay OJSC ended 2018 with a net annual loss of 33,900 manats, while 2017 was completed with a profit of 152,500 manats, Trend informs referring to the company's audited report.

According to the report, the gross profit of the company increased by 25.5 percent up to 1.476 million manat, and was formed from revenues of 3.057 million manats (an increase of 24.7 percent) and deduction of the cost of services in the amount of 1.58 million manats ( an increase of 23.8 percent).

After deducting administrative expenses of 1.279 million manats (an increase of 32.5 percent), operating profit amounted to 197,000 manats, which is 6.2 percent less compared to the last year.

Non-operating expenses, including interest paid, increased significantly 18.6 times and amounted to 216,300 manats.

The loss of GoldenPay before deducting income tax amounted to 19,200 manats compared to profit of 100,000 manats in the previous year.


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