Accumulated losses of "Baku Bus" LLC reach 152 mln AZN

Baku. 23 October. REPORT.AZ/ Total assets of "Baku Bus" LLC made 226.143 million AZN as of January 1, 2017.

Report informs citing the company's financial statement, it is less by 7.7% than January 2016.

Total liabilities of "Baku Bus" for the last year decreased by 9.8% to 177.967 million AZN. Total capital of the company increased by 0.85% and reached 48.177 million AZN, while authorized capital decreased by 39.8% and dropped to 18.049 mln AZN.

In 2016, "Baku Bus" operating (passenger transportation) income totaled 12.629 mln AZN (more by 2.9-fold than 2015), operating (passenger transportation) expenses 28.39 mln AZN (more by 82.1%), financial expenses 2.49 mln AZN (less by 36.7%), profit tax payments 40,000 AZN. As a result, the company ended last year with loss of 54.638 mln AZN. This is less by 42.6% than in 2015.

The state increased investments in company by 58% to 181.7 mln AZN last year

Accumulated losses of "Baku Bus" reached 151.57 mln AZN.

Notably, "Baku Bus" LLC was created in 2014. The state-owned company is subordinated to the Baku City Executive Power, based on the principle of self-financing.