GoldenPay’s net profit grows more than twice

The biggest company in the Azerbaijani online payment market, GoldenPay OJSC, completed 2020 with a net profit of 715,000 manats, Report informs.

This is 2.2 times more than in 2019.

Last year, revenues from GoldenPay services amounted to 5.31 million manats (31.7 percent more than a year earlier), the cost of services made 3.056 million manats (37.6 percent more), general and administrative expenses made 1.093 million manats (18.1 percent less), interest expenses made 28,872 manats (0.4 percent more), and income tax payments made 226,000 manats (82.3 percent more).

As of January 1 this year, GoldenPay’s assets amounted to 3.02 million manats, which is 30.7 percent more than the annual indicator. During the reporting period, the company’s liabilities decreased by 0.3 percent - to 1.963 million manats, and the balance capital increased 3.1 times, to 1.057 million manats.

($1 = 1.69 AZN)