BAKU, Azerbaijan, July 19. The net profit of Azerenergy OJSC exceeded 175 million manat ($102.9 million) by the end of 2023, the financial report of Azerenergy said, Trend reports.
Over the past year, Azerenergy's assets grew by 17.5 percent and amounted to 5.3 billion manat ($3.1 billion) as of January 1, 2024.
“The liabilities of the JSC increased by 14.4 percent to 2.5 billion manat ($1.4 billion) in 2023. The balance sheet capital increased by 20.5 percent to 2.7 billion manat ($1.5 billion),” the report reads.
The authorized capital of the OJSC is 1.7 billion manat ($1 billion).
To note, Azerenergy has been operating since 1997, and the entire block of its shares belongs to the state.
The company is the main producer and exporter of electricity in the country.
