Profit of Azerbaijan’s mobile operator decreases

ICT Materials 1 March 2018 14:16 (UTC +04:00)

Baku, Azerbaijan, March 1

By Huseyn Valiyev - Trend:

Azercell Telecom LLC, an Azerbaijani mobile operator, completed 2017 with a loss of 19.357 million manats, reads the company’s consolidated financial report published March 1.

According to the report, the company’s profit amounted to 81.425 million manats in 2016. Profit before tax decreased from 134.726 million manats (in 2016) to 2.805 million manats (at the end of 2017).

The revenues of the mobile operator amounted to 411.441 million manats in 2017 compared to 392.880 million manats in 2016. Total expenses of the company increased by almost 30.5 percent and amounted to 397.151 million manats in 2017.

The long-term assets of Azercell Telecom decreased from 478.481 million manats (in 2016) to 440.210 million manats (in 2017), while the company’s short-term assets grew from 443.138 million manats to 476.142 million manats. As a result, the company’s total assets decreased from 921.619 million manats (in 2016) to 916.352 million manats (at the end of 2017).

The liabilities of Azercell Telecom increased from 73.524 million manats (in 2016) to 87.614 million manats (at the end of 2017).

The aggregate capital of Azercell Telecom decreased by 2.3 percent and amounted to 828.738 million manats as of the end of 2017. At the same time, the share capital of the company remained unchanged and amounted to 42.080 million manats.

(1.7001 manats = 1 USD on March 1)