MIDA concluded last year with 1.5 million AZN net profit

MIDA concluded last year with 1.5 million AZN net profit
Assets of state company increased by 11 times

Baku. 18 May. REPORT.AZ/ Total assets of "Mida" LLC under the State Housing Construction Agency (MIDA) amounted 112,047 million AZN.

Report informs, referring to the financial report of the company, it is 10.5 times more than in January last year.

In 2017, the total liabilities of the MIDA decreased by 74% or 3.85 times and was 32,000 AZN, while the total capital reached to 112,015 million AZN increasing by 10,65 times, because of allocation of 100 million AZN from the state budget.

Last year, the operating income of the company amounted to AZN 37,000 (2.7 times more than the previous year), financial revenues 5.32 million AZN (10.7 times more), administrative and operating expenses - 3.616 million AZN (3.7 times more), and the profit tax expenses - 248 thousand AZN (16.5 times more). Finally, MIDA concluded 2017 with 1.493 million AZN net profit. However, the company had 478,000 million AZN net loss in 2016.

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