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Azerbaijan’s Invest-AZ completes 2022 with net profit

Finance Materials 30 March 2023 15:54 (UTC +04:00)
Azerbaijan’s Invest-AZ completes 2022 with net profit
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, March 30. Invest-AZ, an Azerbaijani Investment Company, completed 2022 with a net profit of 1.5 million manat ($882,352), Trend reports via the company.

According to the report, the company's net profit in 2021 totaled 1.2 million manat ($706,000).

The company's revenues, in the reporting period, amounted to 4.9 million manat ($2.8 million), including income from brokerage services of 242,170 manat ($142,450).

At the same time, the administrative and other operating expenses of Invest-Az at the end of last year amounted to 3.4 million manat ($1.9 million), while interest expenses reached 387,140 manat ($227,729).

The company's profit before taxes by the end of 2022 amounted to 2 million manat ($1.1 million), while income tax payments reached 441,220 manat ($259,540).

Moreover, in 2022, Invest-Az's assets increased by 87.97 percent to 27.2 million manat ($15.9 million) compared to 2021, while its liabilities increased by 111.25 percent to 22.5 million manat ($13.2 million).

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