BAKU, Azerbaijan, April 3. Ateshgah Insurance OJSC of Azerbaijan ended 2023 with a profit of 437,000 manat ($257,060), a significant increase from the deficit of 518,000 manat ($304,710) in 2022, Trend reports.
According to the company's financial report, last year's
revenues were 38.35 million manat ($22.56 million), a 29.3 percent
increase over the previous year.
The company's expenses increased by 25.3 percent to 37.8 million
manat ($22.2 million), while revenue tax payments totaled 109,000
manat ($64,120).
By January 1 of this year, the company's assets were 56.98 million
manat ($33.5 million), a 22.4 percent increase over the previous
year.
The liabilities rose by 33.7 percent to 40 million manat ($23.5
million), while the balance capital rose by 1.8 percent to 16.8
million manat ($9.88 million).
To note, Ateshgah Insurance was established in 1996, and ranks among the top five companies by volume of insurance premiums collected and payments made. Its authorized capital is five million manat ($2.9 million).
