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Azerbaijan’s Khazar-Lada OJSC ends 2021 with profit

Finance Materials 25 April 2022 10:59 (UTC +04:00)
Azerbaijan’s Khazar-Lada OJSC ends 2021 with profit
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, April 25. Net profit of Khazar-Lada OJSC, the official distributor of Russian AvtoVAZ JSC in Azerbaijan, amounted to 503,500 manat ($296,100) in 2021, Trend reports with reference to the balance sheet of the company, published in Respublika newspaper.

According to data confirmed by the audit report, the company’s income amounted to 27.9 million manat ($16.4 million) in 2021.

Company’s expenses amounted to 27.1 million manat ($15.9 million) for last year, including depreciation – 52,700 manat ($31,000), other expenses – 545,900 manat ($321,100).

Company's profit before taxes amounted to 629.300 manat ($370,100), income tax payments - 125.800 manat ($74,000) in 2021.

The company’s assets decreased by 11.7 percent - to 14.1 million manat ($8.3 million), liabilities - by 21.02 percent - to 4.5 million manat ($2.6 million), capital - by 6.5 percent - to 9.5 million manat ($5.6 million) in 2021 compared to the 2020 year.

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