Azerbaijan Rigs unveils net profit for 2021

17:56 - 27.07.2022

July 27, Fineko/abc.az. A joint company of SOCAR and the State Oil Fund (SOFAZ) - Azerbaijan Rigs LLC received net profit of AZN 30 million in 2021.

ABC.AZ reports that the joint company reduced its income by 65% to AZN 32 million last year.

The prime cost of sales amounted to AZN 33 million, general administrative expenses – AZN 1 million and other income – AZN 29 million.

As a result, company’s net profit totaled AZN 27 million for 2021. Taking into account the fact that net profit for the previous year amounted to AZN 50 million, it decreased by 46% in annual comparison.

It should be noted that SOCAR's share in Azerbaijan Rigs is only 10%.

 

Other news