'Land Reclamation and Water Management of Azerbaijan' JSC has published its inancial report on the results of 2022. According to the document, past year the organization made a profit woth 59.5 million manats, which is down by 24.8% from a year earlier. In 2022, 'Land Reclamation and Water Management of Azerbaijan' gained 2.9% more revenue than in 2021 - 647.4 million manats. At that, 525.6 million manats were allocated from the state budget. Besides, the joint-stock company earned 4 million manats from exchange operations and 117.8 million manats from other operations. Last year, the expenses of 'Land Reclamation and Water Management of Azerbaijan' amounted to 6.9% more than a year earlier - 587.9 million manats. Of these, 59.9 million manats accounted for the cost of materials used, 139.5 million manats - wages and other employee-related expenses, 223.2 million manats - depreciation expenses, 165.3 million manats - other operating expenses. As of the beginning of this year, the assets of 'Land Reclamation and Water Management of Azerbaijan' amounted to 6.1% more than at the beginning of last year - 3,753.4 million manats. It is to remind that the company's liabilities amounted to 169.3 million manats (11.6 times more), the balance sheet capital - 3,584.1 million manats (1.7% more), including the authorized capital -728.4 million manats (unchanged).

Source: Turan News Agency