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Joint-Stock Company Ukrzaliznytsia (Ukrainian Railways) in January-April 2017 received a net profit of UAH 96.2 million against UAH 1.7 billion net loss for the same period in 2016, the company press service reported.
"In four months of 2017, Ukrzaliznytsia received UAH 96.2 million in net profit, according to its financial report, while in the same period of 2016, the result was negative at UAH 1.7 billion, and for four months of 2015, the loss amounted to UAH 666 million," the report says.
Taxes paid by Ukrzaliznytsia in the same period, as well as other mandatory payments to the budget and state trust funds, increased by UAH 358.8 million.
Read alsoUkrzaliznytsia says has no intention to terminate railway passenger traffic with Russia"In just four months of 2017, Ukrzaliznytsia paid UAH 4.9 billion in taxes and payments, including UAH 1.7 billion to the state budget, UAH 16.4 billion to state trust funds, and UAH 15.5 billion to local budgets," the press service quotes company CEO Wojciech Balczun as saying.
According to the report, the freight turnover for the first four months of this year increased by 8.3%, passenger turnover - by 6.5%, labor productivity - by 5.3%, and the average monthly salary - by 27.3%.
At the same time, the press service noted that the company saw UAH 3.7 billion losses in passenger transportation.
UNIAN memo. 100% of shares at JSC Ukrzaliznytsia are owned by the state. The company is included in the list of state-owned enterprises that are not subject to privatization.
Ukrainian Railways provides 82% of cargo and nearly 50% of all passenger transportation services. In terms of cargo transportation volumes, the Ukrainian railway is fourth largest on the Eurasian continent, second only to the railways of China, Russia and India.
In 2015, Ukrzaliznytsia saw a loss of UAH 16 billion, mainly as a result of the hryvnia exchange rate fluctuations against the major currencies.
In 2016, the company reached profitability with the net profit at UAH 303 million.
Earlier, Minister of Infrastructure Volodymyr Omelyan stated that with the arrival of Balczun to the post of the company CEO, the damage to the Ukrainian economy (from May 2016 to January 2017) reached nearly UAH 50 billion, as a result of the company's unsatisfactory performance.