12:47 - 4.12.2023
December 4, Fineko/abc.az. The State Oil Company (SOCAR) completed June 30, 2023 with net profit of 1.414 billion manats. SOCAR's profit for the same period of 2022 amounted to 4.624 billion manats.
ABC.AZ informs, referring to the consolidated condensed interim report on the financial position of the company, that SOCAR's revenue from sales last year amounted to 42.181 billion manats (60.328 billion manats in the previous year), the cost of sales - 37.538 billion manats (53.310 billion manats in the previous year), distribution costs - 1.163 billion manats, and total and administrative expenses - 928 million manats.
As of July 1 of this year, SOCAR's assets amounted to 70.351 billion manats compared to 80.835 billion manats last year. During the reporting period, the company's liabilities decreased by 23% to 36.722 billion manats, and the total capital increased by 0.9% to 33.629 billion manats.
