Tashkent, Uzbekistan (UzDaily.com) -- In the first quarter of 2024, Quvasoycement JSC recorded a net loss of 12.1 billion soums, which significantly exceeds the loss of 3.9 billion soums for the same period in 2023.

According to the company’s report for the quarter, the cost of products sold increased from 28.7 billion to 33.5 billion soums. At the same time, the volume of long-term bank loans to the enterprise decreased from 67.5 billion to 37.5 billion soums.

The assets of Quvasoycement JSC in the reporting period increased by 46% to 950.3 billion soums, while equity capital decreased by 0.5% to 523.9 billion soums.

The company’s revenue amounted to 36.5 billion soums for the first quarter of 2024, which is 3.5% lower than in the same period in 2023. Gross profit in the reporting period decreased by 66.8% to 3 billion soums.