Aztelekom gets 45% decline in net profit

Baku. 2 November. REPORT.AZ/ As of January 1, 2018, the assets of Aztelekom LLC under the Ministry of Transport, Communication and High Technologies stood at AZN 211.021 million, down 5.55% from the previous year.

Of this, 90.3% or AZN 190.623 million was fixed assets. Last year the fixed assets fell by 7.5%.

Total liabilities declined by 37.7% to AZN 29.843 million, total capital increased by 3.2% to AZN 181.178 million. Authorized capital stood at AZN 22.244 million.

Revenues amounted to AZN 74.835 million in 2017 (down 17.7% from 2016), cost value of services to AZN 54.552 million (-7%), administrative and other operating expenses to AZN 25.197 million (-10.1%), financial expenditures to AZN 933,000 (-67.8%), other non-operating expenses to AZN 14.603 million (47.1%). Consequently, pretax profit made up AZN 8.756 million, down 22% from the previous year.

Aztelekom paid AZN 3.109 million profit tax, up 3.2-fold from the previous year and ended 2017 on net profit of AZN 5.647 million, which is 45% less than 2016.