11:44 - 18.07.2024

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July 18, Fineko/abc.az. Azerenergy OJSC received net profit of 175.11 million manats against 1.685 billion manats of income in 2023.

ABC.AZ reports that the state-owned company ended 2022 with higher net profit than in 2023.

Net profit amounted to 445.58 million manats. Company's earnings from energy sales reached 1.685 billion manats (8.4% less than in 2022 - 1.84 billion manats). Azerenergy's total operating expenses amounted to 1.447 billion manats (3.38% more than 1.4 billion in 2022).

Fuel costs totaled 809.24 million manats with an increase of 0.35%, depreciation and amortization costs - 278.52 million manats with an increase of 2.2%, personnel costs - 104.81 million manats with a rise of 31.35%, repair and maintenance costs - 113.13 million manats with growth of 6.12%.

Operating profit amounted to 244.76 million manats (45.79% less than 451.68 million manats in 2022).

Thus, the overall revenues and profits of Azerenergy in the financial statements for 2023 declined significantly, due to an increase in operating expenses.