TASHKENT, Uzbekistan, April 8. The net profit of Uzbekneftegaz, a state-owned holding company in Uzbekistan's oil and gas industry, amounted to 8.1 billion soums ($640,101) in the first quarter of 2024, Trend reports.
As per data from the company, this indicator is higher by 900 million soums ($71,122), or 12.5 percent than the expected amount (7.2 billion soums, or $568,978).
Revenues volume reached 3.4 trillion soums ($268.6 million) during this period, including 3.33 trillion soums ($263.1 million) of net income from production sales (goods, work, and services).
Furthermore, the volume of expenditures totaled 3.39 trillion soums ($267.8 million), including income tax in the amount of 1.2 billion soums ($94,829) from January through March 2024.
Meanwhile, the net profit of Uzbekneftegaz dropped by more than half, amounting to 611.6 billion soums ($48.6 million) last year, which is 53 percent less year-on-year. At the same time, the profit of the state-owned company has decreased five times in the last three to four years.
The assets of the oil and gas company reached almost 90 trillion soums ($7.1 billion) in 2023, up 13.1 percent year-on-year. Revenues amounted to 14.7 trillion soums ($1.1 billion), up 11.2 percent over the year.
