12:04 - 29.08.2025

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August 29, Fineko/abc.az. The state-owned JSC “Azerkhalcha” ended 2024 with a net loss of 2.118 million manats, compared to a net loss of 1.746 million manats in 2023. Thus, the company’s net loss in 2024 increased by 372,000 manats or 21.3% compared to the previous year.

According to ABC.AZ, Azerkhalcha’s main operating income grew from 4.339 million manats in 2023 to 5.347 million manats in 2024 (an increase of 1.008 million manats, or 23.2%). Last year, the company earned 194,000 manats in revenue and 537,000 manats in financial income (compared to 295,000 manats and 588,000 manats, respectively, in 2023).

In 2024, the company’s total expenses increased by 1.127 million manats or 17.6% to reach 8.196 million manats (versus 6.969 million manats in 2023). The increase in total expenses was mainly due to a nearly sevenfold rise in other operating costs. As of December 31, 2024, the accumulated loss of Azerkhalcha reached 24.231 million manats (compared to 22.152 million manats at the end of 2023). The company’s accumulated losses exceed its charter capital of 15 million manats, which is owned by the state. It should be noted that JSC “Azerkhalcha” was established on May 5, 2016. The company’s core activities include the production and sale of carpets and carpet products, the introduction of new technologies in carpet production, and other work related to the development of this sector. The authorized capital of Azerkhalcha is 15 million manats, consisting of 15 million shares with a nominal value of 1 AZN, owned by the government of the Republic of Azerbaijan. As of December 31, 2024, the company employed 647 people. The Chairman of the Board of JSC “Azerkhalcha” is Emin Salhab oglu Mamedov.