Azerbaijani state-funded AzTV channel's net loss drops by 30%

The Azerbaijani Television and Radio Broadcasting CJSC (AzTV) completed 2020 with a net loss of AZN1.8 million, this is 30% less than in 2019, Report informs citing the organization's financial statements.

In 2020, AzTV's revenues amounted to AZN34,369,000 (0.4% more than in 2019), including revenues from over-the-counter transactions (deductions to the state budget) - AZN33,983,000 (3.2% more), revenues from exchange transactions - AZN385,000 (28.8% less) and other operating income - AZN2,000 (414 times less).

The expenses of the joint-stock company for the year amounted to AZN36,163,000 (1.6% less), expenses on wages - AZN20,574,000 (8.2% more), depreciation costs - AZN4,524,000 (6.7% less) and other operating expenses - AZN10,366,000 (12.6% less).

In 2020, AzTV paid profit tax in the amount of AZN25,000, which is 3.7 times less than in 2019.

As of January 1, 2021, the assets of the joint-stock company amounted to AZN24,187,000, which is 12.1% less than a year ago. During the reporting period, the organization's liabilities decreased by 58.8% to AZN1.052,000, and balance sheet capital - by 7.3% to AZN23,135,000.