12:37 - 11.07.2023

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July 11, Fineko/abc.az. MIDA LLC, owned by the State Housing Construction Agency (MIDA), completed 2022 with profit of AZN 2.211 million (74.1% more against 2021).

ABC.AZ reports that last year, income of a commercial institution from contracts with customers amounted to AZN 89.328 million (12.7% more against the previous year), the cost of sales – AZN 70.25 million (8.4% more), other operating income – AZN 744,000 (18.8% more), general and administrative expenses – AZN 14.455 million (42.4% more), net loss from depreciation of financial assets – AZN 125,000 (no income in the previous year), financial income – AZN 1.68 million (18.2% less), financial expenses – AZN 3.98 million (37.3% less), income tax payments – AZN 726,000 (15.4% less).

As of January 1, 2023, MIDA's assets amounted to AZN 448.025 million (3% less than a year ago). Company's liabilities declined by 19.4% to AZN 214.05 million, and balance sheet capital grew by 19.3% up to AZN 233.97 million.

MIDA LLC was established on April 11, 2016, and on May 17 of the same year passed state registration. Its authorized capital is AZN 10 million.