BAKU, Azerbaijan, March 31. Azerbaijan's PASHA Insurance company completed 2022 with a net profit of 29.2 million manat ($17.1 million), Trend reported citing the accounting report published in the 'Respublika' newspaper.
According to the report, last year the company's revenues totaled 212.2 million manat ($124.8 million), which included investment incomes of 12.7 million manat ($7.4 million), income from subrogation worth 2.02 million manat ($1.1 million) and other revenues of 531,000 manat ($312,360).
The company's expenditures totaled 173.8 million manat ($102.2 million), made of operational expenses worth 131.3 million manat ($77.2 million), cost of doing business of 42.4 million manat ($24.9 million) and other revenues - 11,788 manat ($6,934).
The company's profit before taxes in 2022 amounted to 38.3 million manat ($22.5 million), whereas income tax payments to 9.1 million manat ($5.3 million).
As of January 2023, the company's total assets equaled 274.8 million manat ($161.6 million), while its total liabilities were 195.5 million manat ($115 million) and total capital accounted for 79.2 million manat ($46.5 million).