In 2022, the net profit of 'Azerenergy' OJSC (state monopoly on electricity production) amounted to 445.577 million manats ($262.1 million), by 3.1 times higher than in 2021. According to the published audited financial statements of 'Azerenergy,' in 2022, the company's revenues amounted to 1 billion 851.679 million manats (an increase of 40.2%). 'Azerenergy's' revenues from the sale of electricity amounted to 1 billion 840.564 million manats (an increase of 43.7%), from connection to the electricity grid - 6.987 million manats (a decline of 20.8%), other revenues - 4,128 million manats (a decline of 86.5%). The company's operating profit in 2022 amounted to 451.68 million manats (an increase of 3.5 times). The accumulated losses of the company at the beginning of 2023 are estimated at 2 billion 164.739 million manats (a decline of 16.8%). The company's liabilities in 2022 decreased by 11.6% to 2 billion 212.996 million manats. The company's funds allocated for investment activities in 2022 increased by 15.8% to 572.394 million manats

Source: Turan News Agency