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The Georgian Railways has published the results of financial reports for the first quarter of 2022. According to the document, during January-March 2022, the net profit of the Georgian Railways amounted to GEL 23,547 million. It should be noted that in the same period of 2021, the Georgian Railways had a loss of GEL 54,381 million.
Additionally, in the first quarter of 2022, the revenues of the Railways in the reporting period amounted to GEL 141,442 million, while in the same period of 2021, the income was about GEL 128 mln.
To be reminded, in the past years, the Georgian Railways was at a constant loss, more specifically, in 2020, the loss of the Railways amounted to GEL 164.6 million, while in 2019 – GEL 5,581 million; in 2018 - GEL 716,539 million, and in 2017 - GEL 154 million. As for 2021, the Georgian Railways recorded a profit for the first time in 5 years, in particular, the profit figure totaled GEL 52,711 million.
To be informed, the Georgian Railways is a company of strategic importance for the country, 100% of which is owned by the Georgian Partnership Fund.
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