28.Aug .2020 16:44

Georgian Railway received a loss of 31.4 million GEL in the first six months of 2020

views 129

JSC "Georgian Railway" has published the financial indicators of the first half of 2020. According to the document, the consolidated revenues of the group increased by 6.4% to 245 million GEL during January-June, but the railway expenses were increased further, due to which the company ended the first quarter of the year with a loss of 31.4 million GEL.

Georgian Railway transported 5.5 million cargo in the same period, which was 0.4 million tons or 7.8% more comparing to 2019.

Like the first half of 2020, H1 of 2019 was unprofitable for the company. In the same period of the last year, the railway loss amounted to 41.4 million GEL.

According to the financial report of the Georgian Railway, a significant source of cost growth in 2020 was the loss gained from the exchange rate difference. During the period, the company received a loss of GEL 85.1 million due to the exchange rate difference.