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Azerbaijan's AzFinance completes 2Q2022 with net profit

Finance Materials 29 August 2022 20:12 (UTC +04:00)
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, August 29. AzFinance Azerbaijani investment company completed the second quarter of 2022 with a net profit of 620,360 manat ($364,917), while this figure was 146,000 manat ($85,882) in the same period of 2021, Trend reports citing the company's financial report.

According to the reports, the company's revenue amounted to 1.5 million manat ($882,352).

Administrative expenses of AzFinance amounted to 134,490 manat ($79,111) in the first half of 2022, salary and social expenses – 514,040 manat ($302,376), other expenses – 23,700 manat ($13,941).

The company's profit before taxes amounted to 620,360 manat ($364,917).

AzFinance's total assets amounted to 7.1 million manat ($4 million), total capital - 3.5 million manat ($2 million), and total liabilities - 3.58 million manat ($2.1 million).

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