In 1Q2024, the revenue of the Georgian Railway increased to GEL 152 million, - according to the report published by the company. Compared to the corresponding period of the previous year, the company's income has increased by 10%, or GEL 14 million.
However, taking into account the increased financial costs, the net profit of the company was sharply reduced amounting to GEL 16.5 million. In the first quarter of 2023, the net profit made up GEL 82.3 million, of which GEL 69 million was the profit caused by the exchange rate difference (strengthening of the GEL). In 1Q2024, GEL depreciated slightly, which was reflected in the financial account of Georgian Railways with an exchange rate loss of GEL 7.6 million.
According to the financial report, in the first quarter of 2024, Georgian Railways paid GEL 56.5 million for the salaries of 12,000 employees, the cost of depreciation and amortization made up GEL 16.3 million, the cost of electricity, fuel and other consumables stood at GEL 20.8 million, and other expenses were GEL 35 million.
According to the financial report, the assets of the Georgian Railways amount to GEL 2.5 billion, and the liabilities - GEL 1.64 billion.
