BAKU, Azerbaijan, May 23. Azerbaijan's Silk Way Insurance Company has ended the first quarter of 2022 with a net profit of 234,180 manat ($137,835), Trend reports citing the company's financial report.
According to the report, the revenues of Silk Way Insurance from January through March 2022 totaled 5.46 million manat ($3.2 million), out of which interest income constituted 5.235 million manat ($3.08 million), while investment income – 120,970 manat ($71,199).
The company's expenses amounted to 5.168 million manat ($3.04 million). It was formed by interest expenses worth 4.73 million manat ($2.78 million), business expenses of 433,220 manat ($254,981), and other expenses – of 23,890 manat ($14,060).
The company's profit before taxes reached 292,720 manat ($172,288), whereas income tax payments – 58,540 manat ($34,455).