BAKU, Azerbaijan, October 29. Uzbekistan’s Quartz JSC increased its net profit to 28.3 billion soums (about $2.38 million) in the first nine months of 2026, compared with a net loss of 15.6 billion soums (around $1.3 million) in the same period of 2025.
This was reflected in the statement by KAP DEPO.
The company’s revenue rose 34.6% year over year to 519.4 billion soums (approx. $43.6 million).
Based on the reported growth rate, Quartz generated approximately 385.6 billion soums (around $32.4 million) in revenue in January-September 2025, meaning revenue increased by around 133.9 billion soums (about $11.3 million) during the reporting period.
Gross profit also increased, reaching 143.5 billion soums (around $12 million), compared with 98.6 billion soums a year earlier. This represents an increase of 44.9 billion soums (approx. $3.7 million), or approximately 45.5% year over year.
The company’s gross profit margin improved to approximately 27.6% in the first nine months of 2026, up from around 25.6% in the same period of 2025, an increase of about 2 percentage points.
Despite the improvement in its nine-month results, Quartz reported a decline in quarterly profitability. Net profit for the third quarter of 2026, covering July through September, totaled 22.4 billion soums (about $1.87 million), down 28% from the corresponding period of 2025.
Based on this decline, the company’s third-quarter net profit in 2025 was approximately 31.1 billion soums (around $2.6 million). This indicates a year-over-year decrease of around 8.7 billion soums (approx. $731 690).
The company’s nine-month results show a return to profitability following the net loss recorded in the same period last year, alongside stronger revenue and gross profit. However, the decline in third-quarter net profit indicates that the improvement in cumulative results did not translate into higher quarterly earnings.
