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Azerbaijan’s Azelectromash JSC ends 2021 with profit

Finance Materials 1 April 2022 17:47 (UTC +04:00)
Azerbaijan’s Azelectromash JSC ends 2021 with profit
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, April 1. The net profit of Azelectromash JSC amounted to 468,400 manat ($275,500) in 2021, Trend reports with reference to the balance sheet of the company, published in the Respublika Azerbaijani newspaper.

According to the data confirmed by the audit report, the income of the company amounted to 3.2 million manat ($1.8 million) in 2021.

Azelectromash’s expenses for last year amounted to 867,100 manat ($510,000), depreciation expenses – 2,500 manat ($1470), personnel expenses – 64,100 manat ($37,700), other expenses – 214,900 manat ($126,400).

The company's assets increased by 123.9 percent - up to 1.74 million manat ($1.02 million), capital by 194 percent - up to 710,100 manat ($417,600), liabilities by 92.5 percent - up to 1.03 million manat ($610,600) in 2021 compared to 2020.

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