Capital of Copyright Agency of Azerbaijan grows over 6 times

As of Janгфкн 1 this year, the total capital of the Copyright Agency of Azerbaijan increased to 8.049 million manats, which is 6.3 times more than in 2017 (1.277 million manats), Trend reports with reference to the agency’s financial report.

During the reporting period, the authorized capital of the agency increased five times compared to the previous year – to 5 million manats, and reserve capital grew 6.02 times – to 3.392 million manats.

At the end of last year, the total assets of the agency increased more than four times – to 8.66 million manats, including growth of long-term assets (five times) and short-term assets (more than four times).

During the reporting period, the agency’s liabilities increased by 72,644 manats and amounted to almost 611,000 manats.

The agency’s net profit during the reporting period amounted to more than two million manats. The agency includes into the net profit a capital reserve and total income worth 26,404,000 manats received last year. In 2017, the net profit of the organization was only 61 manats.