Net profit of 'Azerbaijan Caspian Shipping' doubled

Baku. 6 June. REPORT.AZ/ Total assets of "Azerbaijan Caspian Shipping" CJSC at the beginning of 2016 amounted to 803,843 mln AZN.

Report informs citing the company's financial report, this is less by 30.967 mln AZN or 3.7% compared to 2014.

Last year total capital of Azerbaijan Caspian Shipping increased by 79.031 mln AZN or 12.9% and amounted to. 109,998 mln AZN. Total liabilities of company decreased by approximately 2 times and made 110.473 mln AZN

During the reporting year the company's revenues during the reporting year amounted to 331.642 mln AZN or 224.459 mln AZN.

Thus, compared with 2014 the company's total profit increased 5.2 times or 86.684 mln AZN amounting to 107.183 mln AZN.

Last year, "Azerbaijan Caspian Shipping" earned 30.192 mln AZN from other operations and 4.864 mln AZN in exchange rate differences.The company's social spending was 2,975 mln AZN, general and administrative expenses - 36.471 mln AZN, other operating expenses 9,307 mln AZN, loss on disposal of fixed assets totaled 575 thousand AZN. Thus, the company's operating profit increased by 78.65 mln AZN or 6.5 times and reached 92.911 mln AZN.

"Azerbaijan Caspian Shipping" has spent 21.769 mln AZN on payment of income taxes and financial costs of company made 2,145 mln AZN. Thus, the company ended 2015 with net profit of 68.997 mln AZN. 

This is more by 34.981 mln AZN or approximately 2 times than in 2014.