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Assets of Azerbaijan's Xalq Kapital investment company increase

Finance Materials 8 September 2020 13:16
Assets of Azerbaijan's Xalq Kapital investment company increase

BAKU, Azerbaijan, Sept. 8

By Fidan Babayeva - Trend:

The assets of the Azerbaijani Xalq Kapital investment company amounted to 612,000 manat ($360,000) in 2019, showing a growth of 5.9 percent compared to 2018, Trend reports citing the company’s audit report.

Xalq Kapital completed 2019 with a net profit of 68,000 manat ($40,000), and 2018 – with a profit of 174,000 manat ($102,353).

On an annualized basis, the company’s profit dropped 2.5 times, said the report.

Last year, the taxable profit of Xalq Kapital amounted to 86,000 manat ($50,588), a decline of 51.7 percent, and income tax payments - 18,000 manat ($10,588), a decrease of 41.9 percent.

Meanwhile, the investment company's liabilities decreased by almost 88 percent and amounted to 5,000 manat ($2,941), while the balance capital increased by 12.6 percent and reached 608,000 manat ($357,647).

(1 USD = 1.7 manat on Sept. 8)

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