SOFAZ net profit down 3.45 times

12:22 - 25.08.2022

August 25, Fineko/abc.az. The State Oil Fund (SOFAZ) completed 2021 with a net profit of 1,556,203,000 manats, ABC.AZ reports, citing SOFAZ’s financial statements.

This is 3.45 times less than in 2020. Despite this, the undistributed profit of the organization increased by 3.9% and reached 41,825,204,000 manats.

Last year, SOFAZ operating income amounted to 1,568,110,000 manats (3.4 times less than a year earlier), operating expenses made 74,192,000 manats (15.2% less), income joint ventures at the expense of a share in financial results after taxes made 66,780,000 manats (2 times more), and income tax payments made 4,396,000 manats.

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