11:21 - 7.11.2025

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November 7, Fineko/abc.az. 2024 was an unsuccessful year for IT-company Qafqaznet LLC in terms of revenues.

ABC.AZ informs that according to company's consolidated financial statements, last year's core operating income decreased by 32% versus 2023, from 11 million manats to 7.5 million manats. The sale price dropped from 7.7 million manats to 4.8 million manats. Meanwhile, 2023 was the year of the largest sales volumes in the history of this company.

As a result, the total profit decreased from 3.3 million manats to 2.7 million manats.

The operating profit also showed a decrease, from 2.1 million manats in 2023 to 848,000 manats in 2024. Financial expenses increased from 12,000 manats to 37,000 manats.

Profit before tax fell from 2.1 million manats to 811,000 manats. As a result, company's net profit declined from 1.7 million manats to 685,000 manats, which is a drop of almost 60% against 2024.

The volume of assets also fell from 4.6 million manats to 2.9 million manats. In particular, cash and cash equivalents declined from 3.1 million manats to 1.5 million manats.