Tamiz Shahar's losses exceed AZN 241 million


February 22, Fineko/abc.az. Tamiz Shahar OJSC, owned by the Ministry of Economy, ended 2020 with loss of AZN 20.065 million (26.5% less than in 2019).

ABC.AZ reports that according to the company's financial statements, Tamiz Shahar’s total loss grew by 9.1% up to AZN 241.3 million.

In 2020, Tamiz Shahar's operating income reached AZN 4.86 million (8.6% more versus 2019), operating expenses AZN 18.6 million (3.5% more), impairment losses on property, buildings and equipment AZN 3.505 million (4.9-fold less), losses on recovery of probable credit losses on financial assets, receivables and other funds owed AZN 2.84 million (there was income in the previous year), impairment loss on advances paid AZN 8,000 (3.1-fold less), and the income from the exchange rate difference is AZN 51,000 (there were no income in the previous year).