10:27 - 12.07.2024

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July 12, Fineko/abc.az. The subsidiary of the State Oil Company in Türkiye, SOCAR Türkiye Yatırım A.Ş. in 2023, received net profit in the equivalent of 1.186 billion manats (20.204 billion Turkish liras). In 2022, this figure reached 2.415 billion manats (26.568 billion Turkish liras).

ABC.AZ reports that the revenue received by the company in the amount of 16.75 billion manats last year is 17% less than in 2022.

However, this decrease is linked with sharp loss in the value of the local currency relative to foreign currencies, and income reduces during conversion.

Thus, in 2022, company's revenue at the exchange rate in the national currency amounted to 212.376 billion liras, and in 2023 - 273.85 billion liras.

The share of the State Oil Company of the Republic of Azerbaijan (SOCAR) in the company's net assets is about 79%.